McDermott’s Flagship Derrick Lay Vessel 2000 Formally Named in Keppel Singmarine Shipyard Ceremony
April 14 2016 - 3:00AM
McDermott International, Inc. (NYSE:MDR) today formally named its
flagship Derrick Lay Vessel 2000 (DLV 2000) during a ceremony at
the Keppel Singmarine Shipyard in Singapore.
Photos accompanying this release are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/5f73091a-d618-4808-9296-87f121f2aa90
http://www.globenewswire.com/NewsRoom/AttachmentNg/f57aadc4-de83-416b-9be3-1f3f7d8affa8
Mrs. Brenda Cuthbertson, wife of 38-year McDermott employee and
Asia Area Vice President Hugh Cuthbertson, serves as the vessel’s
godmother and named the DLV 2000 with the traditional breaking of
champagne during the ceremony. The ceremony was attended by invited
guests, McDermott and Keppel executives and employees and was
followed by guided tours and lunch on the vessel.
The DLV 2000 is a class 3 dynamically positioned vessel
combining a 2,200-ton revolving crane with a deepwater under deck
S-lay pipelay system configured to install pipelines with diameters
ranging from 4.5 to 60 inches in water depths up to 10,000 feet.
The vessel can accommodate up to 400 personnel to facilitate large
hook-up and commissioning projects, has a fast transit speed and
incorporates a large, 43,000 square foot open deck to allow the
transportation and assembly of large subsea structures; enabling
safe and efficient stand-alone operations in remote areas.
“The DLV 2000 will add high-end capabilities and increased
versatility to McDermott’s global fleet by utilizing a single
vessel on projects requiring a combination of pipelay and heavy
lift with appropriate deck space for structures and offshore
workforce accommodation that would normally require multiple
vessels; therefore, enabling a more efficient operation for our
customers and a larger market access for McDermott,” said David
Dickson, McDermott’s President and Chief Executive Officer.
“Through the long established relationship between Keppel and
McDermott, the DLV 2000 has been built to a world class
specification and on budget,” Dickson said. “The vessel represents
a strategic component of McDermott’s long-term plan to deliver the
best in class projects to our global customer base.”
The DLV 2000’s first assignment is scheduled offshore Western
Australia on the INPEX Ichthys LNG Project. The DLV 2000 is
expected to join the project in May 2016 for several months as part
of McDermott’s work program by providing heavy construction support
for the subsea system. Work is scheduled to be performed in
conjunction with McDermott’s other new subsea installation vessel,
the Construction Support Vessel 108 (CSV 108), which is working
successfully on the project. The CSV 108 is expected to undergo an
upgrade later in 2016 to install a Vertical Lay System and Reel
Deployment System for use on the project and will then be referred
to as the Lay Vessel 108 (LV 108).
Additionally, the DLV 2000 is scheduled to support the
transportation and installation contract awarded by Woodside Energy
Limited for the Greater Western Flank Phase 2 subsea pipeline and
installation project in Western Australia.
About McDermott McDermott is a leading provider
of integrated engineering, procurement, construction and
installation (EPCI) services for upstream field developments
worldwide. The Company delivers fixed and floating production
facilities, pipelines and subsea systems from concept to
commissioning for complex Offshore and Subsea oil and gas projects
to help oil companies safely produce and transport hydrocarbons.
Our clients include national and major energy companies. Operating
in more than 20 countries across the world, our locally focused and
globally integrated resources include approximately 10,300
employees, a diversified fleet of specialty marine construction
vessels, fabrication facilities and engineering offices. We are
renowned for our extensive knowledge and experience, technological
advancements, performance records, superior safety and commitment
to deliver. McDermott has served the energy industry since 1923 and
is listed on the New York Stock Exchange. As used in this
press release, McDermott includes McDermott International, Inc. and
its subsidiaries and affiliates. To learn more, please visit our
website at www.mcdermott.com.
Forward-looking statementIn 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 specifications and timing of
delivery of the DLV2000, as well as its expected scope, execution
and timing as associated with the INPEX Ichthys project and the
Greater Western Flank Phase 2 subsea pipeline and installation
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: our inability to successfully execute on
contracts in backlog, changes in project design or schedules, the
availability of qualified personnel, changes in the scope or timing
of contracts, contract cancellations, change orders and other
modifications and actions by our customers and business partners,
difficulties executing on the project and changes in contracting
terms and industry norms. 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, 2015. 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.
These photos are also available via AP Photo Express.
McDermott International, Inc.
Investor Relations
Kathy Murray
V.P., Treasurer and Investor Relations
+1.281.870.5147
kamurray@mcdermott.com
Media Relations
Richard Goins
Director, Global Communications
+1.281.870.5932
rgoins@mcdermott.com
Area Communications
Juliana Tan
Asia Area Communications
(65) 6668.5428
yjtan@mcdermott.com
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