HOUSTON, Jan. 24, 2019 /PRNewswire/
-- McDermott International, Inc. (NYSE: MDR) announced
today a significant* contract award by BP Trinidad & Tobago,
LLC (bpTT) for the engineering, procurement and construction (EPC)
of the Cassia Compression Platform, located 35 miles (57
kilometers) southeast off the coast of Trinidad.
"This award demonstrates how, through strong collaboration and
consistent project execution, we continue to build our relationship
with bpTT," said Richard Heo,
McDermott's Senior Vice President for North, Central and
South America. "To ensure project
execution excellence, we will leverage our One McDermott Way
operating model to safely and efficiently deliver the Cassia
Compression Platform with the highest quality."
McDermott will provide engineering, procurement, construction,
hook-up and commissioning of the 8,928 ton (8,100-metric ton)
Cassia C topsides, a 3,747 ton (3,400-metric ton) jacket and a 793
ton (720-metric ton) bridge to link Cassia C with the existing
Cassia B platform that currently sits in 223 feet (68 meters) of
water. The scope also includes Brownfield modifications at Cassia B. The
compression platform will be fabricated and constructed at
McDermott's world-class fabrication facility in Altamira, Mexico – where another recently
delivered project for bpTT, Angelin, was fabricated. Trinidad
Offshore Fabrication Company (TOFCO), a fabricator in Trinidad, will fabricate the jacket and the
bridge landing frame.
Engineering services will be provided by McDermott's offices in
Houston, Chennai and Dubai, with the project management team and
procurement being performed from their office in Houston.
This EPC contract follows the completion of a detailed
engineering and long lead procurement services contract McDermott
completed for Cassia C earlier this year, as well as the completion
of the engineering, procurement, construction, installation and
commissioning (EPCIC) contract of the Angelin project for bpTT.
Cassia C is bpTT's third Cassia platform, handling gas coming
from its operations in the prolific Columbus basin. Cassia C will
receive 1.2 billion standard cubic feet per day (BSCFD) of
hydrocarbon gas through new piping from Cassia B across the bridge.
The gas will be compressed in three gas turbine driven compressors
and returned to Cassia B for export. Liquids from Cassia C and
Cassia B will be combined and boosted for export.
* McDermott defines a significant contract as $250 million to $500
million. The contract was awarded in two phases, with an
initial booking in the fourth quarter of 2018 for early engineering
and procurement work. The remainder of the award will be reflected
in McDermott's first quarter 2019 backlog.
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. As used in
this press release, McDermott includes McDermott International,
Inc. and its subsidiaries and affiliates. 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 backlog, to the extent backlog
may be viewed as an indicator of future revenues or profitability,
and statements about the expected value, scope, and execution and
timing 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.