HOUSTON, July 30, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE:MDR) and Baker Hughes, a GE company
(NYSE: BHGE) announced today that the companies were awarded
contracts to provide a joint URF and SPS solution for the
INPEX-operated Ichthys Liquefied Natural Gas (LNG) field
development, located off the northwest coast of Western
Australia.
The award includes a joint URF and SPS EPCI solution, comprising
a new subsea well gathering system (GS4), tied back to the existing
central processing facility. In addition to the GS4 scope, the
award includes in-fill URF EPCI scope involving the development of
new subsea wells tied-in to the existing gathering systems. Water
depths in the field range from 787 to 885 feet (240 to 270
meters).
McDermott and BHGE will lead the project from the joint Project
Management and Engineering office in Perth, Australia. Fabrication of the subsea
URF equipment will be carried out at McDermott's fabrication
facility in Batam, Indonesia.
Utilizing the Subsea Connect execution model, BHGE will deliver the
SPS scope, including vertical christmas trees, associated
production control systems, distribution equipment and topside
controls as well as associated installation and commissioning
support services. This award follows an earlier award granted
to BHGE in 1Q 2019, including four christmas trees and associated
SPS equipment for in-fill development. Offshore installation
of the URF and SPS equipment will commence in 2020 and be completed
in 2023. The field development will be carried out using
state-of-the-art assets, including McDermott's derrick lay
vessel, DLV 2000.
"McDermott's alliance with BHGE is a combination of two leaders
in subsea development. McDermott's majority share of this award is
a testament to our expertise in executing large and complex subsea
EPCI projects. Our experience will ensure delivery during the next
phase of this key gas field development," said Ian Prescott, McDermott's Senior Vice President
for Asia Pacific.
Graham Gillies, BHGE Regional OFE
Vice President, said, "We have brought together core elements of
our Subsea Connect approach, leveraging early engagement, advanced
technology, and our flexible partnership model to deliver improved
project economics and certainty for Ichthys LNG. This award is a
true example of how the industry is changing its approach to subsea
projects."
About Ichthys LNG
Ichthys LNG is one of the largest and most complex resource
developments in the world. Located about 136 miles (220 kilometers)
off the northwest coast of Western
Australia, Ichthys LNG is effectively three mega-projects in
one. The development has an expected operational life of 40 years
and involves some of the largest offshore facilities in the
industry and state-of-the-art onshore LNG processing and exporting
facilities.
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.
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 the expected 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 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:
McDermott International Inc.
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
Asia Pacific Media Relations
Miki O'Farrell
Manager, Marketing
Asia Pacific
+60 12 305 3609
mofarrell@mcdermott.com
Baker Hughes, a GE company
Investor Relations
+1 281 809 9088
investor.relations@BHGE.com
OFE Media Relations
Kelly
Russell
+1 713 548 4176
kelly.russell2@bhge.com
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SOURCE McDermott International, Inc.; Baker Hughes, a GE
company