HOUSTON, Feb. 5, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) today announced it has signed a
contract with Woodside Energy Ltd. to undertake a front-end
engineering and design activities for a floating production unit
(FPU) for the Scarborough field gas development in Western Australia.
McDermott's center of excellence in The Hague, Netherlands, will lead the study
and early engineering. Upon completion, the contract includes the
option to progress to an engineering, procurement, construction and
installation (EPCI) contract should the project be approved for
full development by Woodside and its Scarborough joint venture
partners.
"Woodside is a key customer of our Company, and it is therefore
outstanding to see such an important project leveraging off
McDermott's global capabilities," said Ian
Prescott, McDermott's Senior Vice President for Asia Pacific. "In partnering with Woodside on
the front-end engineering and design study, we will use our
best-in-class engineering know-how and project execution expertise
to ensure successful delivery of the project."
The FPU processes natural gas, which includes gas separation,
dehydration and compression as well as Mono Ethylene Glycol (MEG)
regeneration and water handling. The topside will be designed for a
production capacity of 7-9 metric tons per annum and will be placed
on a semi-submersible hull in 2,952 feet (900 meters) water depth.
The FPU will be remotely operated and minimally manned.
The Scarborough gas field is located approximately 236 miles
(380 kilometers) off the Burrup Peninsula in the Northwestern Shelf
of Australia and contains 7.3
trillion cubic feet of natural gas reserves. The development covers
12 daisy-chained subsea wells to be tied back to a semisubmersible
FPU located at the Scarborough field, with onshore processing on
the Burrup Peninsula.
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 scope, execution, value 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
Asia Pacific Media Contact
Philip Ng
Manager, Communications
+60 17 200 4238
fng2@McDermott.com
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SOURCE McDermott International, Inc.