HOUSTON, Feb. 26, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) announced today it was awarded a
sizeable* contract by Precision Mechanical, Inc. for a double wall
liquid hydrogen sphere at the John F. Kennedy Space Center in Cape Canaveral, Florida. The scope of the
contract includes the engineering, procurement and construction of
the sphere, which will be the largest ever built for NASA.
"McDermott's CB&I Storage Tank Solutions has more than a
century of experience delivering innovative and complex storage
solutions," said Richard Heo,
McDermott's Senior Vice President for North, Central and
South America. "This liquid
hydrogen sphere will be utilized for NASA's new Space Launch
System/Orion program – a space frontier program focused on missions
to Mars."
Using its proprietary Hortonsphere®
pressure sphere vessel design, McDermott will engineer, procure,
fabricate and construct a 1,400,000-gallon cryogenic double wall
sphere. The outer sphere has a diameter of 83 feet and an internal
sphere of 71.6 feet – making the new sphere 50 percent larger than
any sphere that has supported NASA's space shuttle program over the
last 30 years. Additionally, the EPC project scope includes
insulation (glass microspheres), internal heat exchanger, as well
as painting, cleaning and testing.
Once completed, the sphere will arm NASA with the largest
cryosphere constructed to date with the combined site capabilities
to store and process over two million usable gallons of liquid
hydrogen for launch support.
The contract has been reflected in McDermott's fourth quarter
2018 backlog.
* McDermott defines a sizeable contract 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. 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 backlog, to the extent that
backlog may be viewed as an indicator of future revenues or
profitability, and the expected scope 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. 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.