HOUSTON, March 11, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) and Baker Hughes, a GE company
(NYSE: BHGE) have announced today that they have been awarded
subsea umbilicals, risers and flowlines (SURF) and subsea
production system (SPS) equipment contracts by BP for the Greater
Tortue Ahmeyim natural gas project, located offshore Mauritania and Senegal. BP, BHGE and McDermott are working
together to realize efficiencies, synergies and enhanced delivery
times.
McDermott was awarded a substantial* engineering, procurement,
construction and installation (EPCI) SURF contract. McDermott plans
to use its upgraded Amazon vessel, DLV 2000, North Ocean 102 (NO
102) and third-party vessels to support installation scheduled to
begin in late 2020. The Amazon modifications are scheduled to be
completed before the installation campaign begins and will include
a multi-joint (hex) J-Lay system to handle the most challenging
ultra-deepwater projects as well as the addition of a multi-joint
facility, dual pipe loading cranes and additional power generation.
McDermott-designed pipeline and riser structures will be fabricated
at its yard in Batam, Indonesia.
BHGE is demonstrating the benefits of early-engagement and
collaboration – some of the key components of Subsea Connect – as
well as bringing its expertise in deepwater, long-offset gas
projects. The company will provide five large-bore deepwater
horizonal xmas trees (DHXTs), a 6-slot dual bore manifold, a
pipeline end manifold, subsea distribution units (SDUs), three
subsea isolation valves (SSIVs), diverless connections and subsea
production control systems, specifically designed to enable the
future integration of additional wells for the first phase of the
development.
"This contract marks a number of firsts: our first significant
subsea EPCI project in West
Africa; the first project using our state of the art pipelay
vessel Amazon; and our support of BP's first entry into
Senegal and Mauritania. This project is also of
significant importance in support of our aspirations in this
region," said Tareq Kawash,
McDermott's Senior Vice President for Europe, Africa, Russia and Caspian. "Our collaboration with BHGE allows
us to offer BP an integrated approach that builds on our proven
solutions. We look forward, along with BHGE, to deliver this
landmark project to BP with the highest levels of safety and
quality."
"Together with McDermott, we will deliver the best-in-class
solution to BP with cost-efficiency and industry-leading safety.
These awards demonstrate the value of early-engagement,
collaborative partnerships and holistic project planning, which are
very much central to our new approach to subsea developments,
Subsea Connect," said Graham
Gillies, BHGE's Vice President, Subsea Production Systems
& Services. "This major deepwater gas development is
strategically important for Mauritania and Senegal's domestic and global gas supply, and
supports the industry's drive for a more sustainable, lower carbon
future."
These latest awards follow an initial front-end engineering and
design (FEED) phase, awarded in March
2018, during which BHGE and McDermott worked together to
define the technology and equipment scope for a four-well
development phase. Project management and engineering teams from
BP, BHGE and McDermott will remain co-located at McDermott's
London offices for this next
phase.
BHGE has also signed an agreement to become a "Country Partner"
of Invest in Africa's (IIA)
Senegal chapter, of which BP is a
founding member. The IIA helps local suppliers to connect with
international oil and gas companies, increasing the opportunities
for local businesses to support large-scale projects, and training
African suppliers on core business skills and entrepreneurship.
Project Details
The initial subsea infrastructure
connects the first four of 12 wells consolidated through production
pipelines leading to a floating production, storage, and offloading
(FPSO) vessel. From here liquids are removed and the export gas is
transported via a pipeline to the floating liquid natural gas
(FLNG) hub terminal where the gas is liquefied.
* - McDermott defines a substantial contract as between
$500 million to $750 million. 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 32,000
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.
About Baker Hughes, a GE company
Baker Hughes, a GE company (NYSE: BHGE) is the world's first and
only fullstream provider of integrated oilfield products, services
and digital solutions. We deploy minds and machines to enhance
customer productivity, safety and environmental stewardship, while
minimizing costs and risks at every step of the energy value chain.
With operations in over 120 countries, we infuse over a century of
experience with the spirit of a start-up – inventing smarter ways
to bring energy to the world. Visit us at BHGE.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,
2018. 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.
McDermott International, Inc.
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
Baker Hughes, a GE company
Investor Relations
Philipp Mueller
+1 281 809 9088
investor.relations@BHGE.com
Media Relations
Lynne
Turnbull
+44 7771996140
lynne.turnbull@bhge.com
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SOURCE McDermott International, Inc.; Baker Hughes, a GE
company