HOUSTON, Dec. 9, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) along with its partners, Chiyoda
International Corporation and Zachry Group, today announced the
beginning of commercial operation of Train 1 by owner Freeport LNG
Development, L.P.
"The past few months have brought significant accomplishments
for Train 1 of the Freeport LNG project—starting with introduction
of feed gas in July, first liquid in August, shipment of first
cargo in September and now commercial operation," said Mark Coscio, McDermott's Senior Vice President
for North, Central and South
America. "Congratulations to the joint venture project team
whose commitment to safety and quality has remained strong
throughout the project."
Zachry Group, as the joint venture lead, partnered with
McDermott for the Pre-FEED in 2011, followed by FEED works to
support the early development stage of the project as a one-stop
shop solution provider for Trains 1 and 2. Later Chiyoda joined the
joint venture partnership for work related to Train 3. The project
scope includes three pre-treatment trains, a liquefaction facility
with three trains, a second loading berth and a 165,000 m3 full
containment LNG storage tank.
Freeport LNG Trains 2 and 3 remain on track to meet their
previously announced schedules, with first liquid from Train 2
being announced on Dec. 6 and Train 3
initial production of LNG scheduled for Q1 of 2020.
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 Zachry Group
Zachry Group is North America's
pacesetter in turnkey construction, engineering, maintenance,
turnaround and fabrication services to the power, energy,
chemicals, manufacturing and industrial sectors.
We work with customers to plan, build and renew their most
critical facilities, so they can achieve their immediate and
long-term goals, all at the highest safety standards. We operate in
more than 30 offices, and our 20,000 employees work in more than
400 locations nationwide, united by a shared set of values and the
desire to deliver the very best outcome for our customers.
Visit www.zachrygroup.com for more information.
About Chiyoda
Chiyoda Corporation, headquartered in Yokohama, Japan provides services in the
fields of engineering, procurement and construction on a global
basis for petroleum refineries, petrochemical complexes, other
hydrocarbon or industrial plants, particularly LNG plants in the
USA, South East Asia, the Oceania regions, the
Middle East and Russia.
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 timing and scope
on the Freeport LNG project. 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 Area Media Relations:
Kristi Krupala
Manager, North, Central and South
America (NCSA) Area Communications & Marketing
+1 281 870 5447
Kkrupala2@mcdermott.com
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SOURCE McDermott International, Inc.
