HOUSTON, Nov. 15, 2018 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) announced today an event that was
hosted at their world-class fabrication yard in Altamira, Tamaulipas, Mexico celebrating the
sail away and another project milestone of the PEMEX Exploración y
Producción PB-Abkatun-A2 oil and gas production platform.
Representatives from PEMEX, government officials, including
Governor of Tamulipas, Francisco Garcia
Cabeza de Vaca, McDermott and regional news outlets
participated in the event.
The PB-Abkatun-A2 platform is McDermott's largest project in
size and total value to date for PEMEX. The USD $454 million engineering, procurement,
construction and installation and commissioning (EPCIC) project was
awarded to the Company in June 2016.
McDermott's scope of the work spanned from the basic engineering
design to tie-in and commissioning of the jacket, deck, four tripod
jackets, and four bridges about 100 meters each. Two tripods were
designed to be used as part of the flare system while the other two
tripods support the two bridges to interconnect PB-Abkatun-A2 with
the existing PEMEX production complex. The giant three-level
topside is the largest ever fabricated at McDermott's world-class
fabrication yard in Altamira.
"Abkatun is an impressive and substantial project for PEMEX and
Mexico, and it has been an honor
for McDermott to be the exclusive contractor for this project,"
said Richard Heo, Senior Vice
President for North, Central and South
America. "Since the beginning, Abkatun has been on an
aggressive project schedule. But our One McDermott Way operating
model, leveraging the vertical integration of our in-house
engineering resources and our world-class fabrication facility in
Altamira, enabled us to bring
efficiency and transparency to the project. The result is we are
safely delivering Abkatun – our largest project to date, in size
and total value, for PEMEX."
Governor Garcia Cabeza De Vaca
spoke at the event and said, "Congratulations to McDermott for this
important achievement. You are making history. And we want you to
keep building, but mainly writing a new history in the area of
hydrocarbons in Tamaulipas and in
our country. This is the first one of many more platforms to be
built in Altamira. And this has
not been possible without the ability, dedication and mainly the
talent of each and every one of you."
Installation of Abkatun is scheduled for November 2018 in Mexico's Bay of
Campeche utilizing McDermott's Amazon, DB50 and Intermac 650
vessels. Commissioning will follow the installation of the 16,534
U.S. ton (15,000 metric ton) platform in 124 feet (38 meters) of
water which will provide replacement and expansion capabilities to
the existing Abkatun Pol Chuc facilities. Following commissioning,
this high-capacity production platform is rated to produce 220,000
barrels of oil per day and 150 million of standard cubic feet of
gas per day for PEMEX.
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—from the
wellhead to the storage tank—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 40,000 employees and engineers, 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.
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,
2017 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
Global Vice President, Communications
+1 281 870
5269
Gentry.Brann@McDermott.com
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SOURCE McDermott International, Inc.