HOUSTON, Feb. 5, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR), along with its joint venture
partners Chiyoda International Corporation and Zachry Group,
announced today that they have been awarded a mega* contract by
Golden Pass Products LLC, a joint venture between Qatar Petroleum
and ExxonMobil affiliates, to build the export project in
Sabine Pass, Texas.
"McDermott has extensive experience in executing major projects
along the U.S. Gulf Coast," said Richard
Heo, McDermott's Senior Vice President for North, Central
and South America. "We will apply
not only our vertically-integrated capabilities but also some of
the best practices and lessons learned for major construction
projects in the region. We will also leverage the existing
relationships we have with our partners and our customers to ensure
that the Golden Pass project is a success."
McDermott, Chiyoda and Zachry Group will perform engineering,
procurement, construction and commissioning of three approximately
5.2 million ton per annum (MTPA) LNG trains with an expected
production capacity of around 16 million tons of LNG per year. Work
will commence in the first quarter of 2019 with a projected
completion date in 2024.
* McDermott defines a mega contract in excess of USD
$1.0 billion. The contract 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, 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 and Marketing
+1 281 870 5269
Gentry.Brann@McDermott.com
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SOURCE McDermott International, Inc.