HOUSTON, Nov. 1, 2018 /PRNewswire/
-- McDermott International, Inc. (NYSE: MDR) announced
today a large* contract award by Petrobras for a natural gas
pipeline project in support of the client's Santos basin pre-salt
field program.
The contract covers the implementation of the ultra-shallow
segment of the new Rota 3 gas export pipeline. The scope of work
includes design and detailed engineering, procurement, construction
and installation of six miles (10 kilometers) of a 24-inch rigid
concrete coated pipeline from the already installed shallow water
segment of this new pipeline system to the shore, including a
horizontal directional drill, tie-in spools and pre-commissioning
of the six mile (10 kilometers) pipeline. Overall project
management and engineering will be performed by McDermott's team in
Rio de Janeiro, with support from
the Houston team.
"Rota 3 is a major pre-salt development area that is important
to the future of oil and gas production for Brazil," said Richard
Heo, McDermott's Senior Vice President for North, Central
and South America. "McDermott has
the local and global expertise, capabilities and assets to support
operations in pre-salt environments – particularly with the
delivery of our previously announced J-Lay configuration
modification to our Amazon vessel. Our office in Rio will execute
this near-term project utilizing expertise they have previously
demonstrated in a series of recent EPCI projects successfully
completed in-country for Petrobras and other operators."
Rota 3 is a 220 mile (355-kilometer) rigid pipeline project by
Petrobras that is part of the company's Santos Basin pre-salt gas
offloading and transportation system. The project is split into
three subsea segments and one onshore segment. McDermott has been
awarded the third subsea segment: an ultra-shallow pipelay
connecting the shallow segment to the onshore segment at Maricá
City, 62 miles (100 kilometers) north of Rio de Janeiro.
The lump sum contract award will be reflected in McDermott's
fourth quarter 2018 backlog.
*McDermott defines a large contract as between USD
$50 million and USD $250 million.
About McDermott
McDermott is a premier, fully integrated provider of technology,
engineering and construction solutions to the energy industry. For
more than a century, customers have trusted McDermott to design and
build end-to-end infrastructure and technology solutions to
transport and transform oil and gas into the products the world
needs today. Our proprietary technologies, integrated expertise and
comprehensive solutions deliver certainty, innovation and added
value to energy projects around the world. Customers rely on
McDermott to deliver certainty to the most complex projects, from
concept to commissioning. It is called the "One McDermott Way."
Operating in over 54 countries, McDermott's locally focused and
globally-integrated resources include approximately 40,000
employees, a diversified fleet of specialty marine construction
vessels and fabrication facilities around the world. To learn more,
visit www.mcdermott.com.
Forward-Looking Statements
In accordance with the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995, McDermott cautions that
statements in this press release which are forward-looking, and
provide other than historical information, involve risks,
contingencies and uncertainties that may impact McDermott's actual
results of operations. These forward-looking statements include,
among other things, statements about the expected scope, execution
and value of the project discussed in this press release. Although
we believe that the expectations reflected in those forward-looking
statements are reasonable, we can give no assurance that those
expectations will prove to have been correct. Those statements are
made by using various underlying assumptions and are subject to
numerous risks, contingencies and uncertainties, including, among
others: adverse changes in the markets in which we operate or
credit markets, our inability to successfully execute on contracts
in backlog, changes in project design or schedules, the
availability of qualified personnel, changes in the terms, scope or
timing of contracts, contract cancellations, change orders and
other modifications and actions by our customers and other business
counterparties, changes in industry norms and adverse outcomes in
legal or other dispute resolution proceedings. If one or more of
these risks materialize, or if underlying assumptions prove
incorrect, actual results may vary materially from those expected.
For a more complete discussion of these and other risk factors,
please see McDermott's annual and quarterly filings with the
Securities and Exchange Commission, including its annual report on
Form 10-K for the year ended December 31,
2017 and subsequent quarterly reports on Form 10-Q. This
press release reflects management's views as of the date hereof.
Except to the extent required by applicable law, McDermott
undertakes no obligation to update or revise any forward-looking
statement.
Contacts:
Investor Relations
Scott Lamb
Vice President, Investor Relations
+1 832 513 1068
Scott.Lamb@McDermott.com
Global Media Relations
Gentry Brann
Global Vice President, Communications
+1 281 870
5269
Gentry.Brann@McDermott.com
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SOURCE McDermott International, Inc.