HOUSTON, July 15, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) announced it has been awarded a
sizeable* contract by Total Oman E&P Development B.V. in
partnership with Oman Oil Company S.O.A.C. to provide front-end
engineering design (FEED) services for the Sohar LNG Bunkering
Project in Oman. This project is
intended to establish Oman as a
regional LNG bunkering hub capable of supplying LNG as a fuel to
marine vessels.
The scope of work during the FEED phase includes fully defining
the onshore mid-scale LNG facilities and preparing a competitive
tender for the engineering, procurement, supply, construction and
commissioning phase. The global LNG bunkering market is entering a
rapid growth period driven largely by the International Maritime
Organization's legislation to significantly limit sulphur
emissions.
"This award is a reflection of McDermott's 60-year history of
delivering innovative LNG solutions worldwide, beginning with our
tank storage solutions in the 1950s, to our liquefaction
capabilities today," said Linh
Austin, Senior Vice President, Middle East and North Africa.
Work on the project will begin immediately and the contract
award will be reflected in McDermott's second quarter 2019
backlog.
* - McDermott defines a sizeable contract as between USD
$1 million and USD $50 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 32,000
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 backlog, to the extent backlog
may be viewed as an indicator of future revenues or profitability,
and about the expected value, scope 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 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
Senior Vice President, Communications, Marketing and
Administration
+1 281 870
5269
Gentry.Brann@McDermott.com
Local Media Relations
Barbara
Knight
Senior Director, Area Communications and Marketing
Middle East and North Africa (MENA)
+971 (0)4 804 3990
BBknight@McDermott.com
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SOURCE McDermott International, Inc.