HOUSTON, July 2, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) today announced it has completed
the first of two offshore campaigns for Reliance Industries
Ltd. KG-D6 R-Cluster subsea field development, in the Krishna
Godavari Basin, located off the East Coast of India.
The campaign included McDermott's piggy-back pipelay in S-lay
mode (18-inch plus a 4-inch) offshore in India in approximately 4,265 feet (1,300
meters) water depth and the installation of 6-inch lines, PLETs and
manifolds to water depths of approximately 6,300 feet (1,920
meters). McDermott used its derrick lay vessel, DLV 2000 to perform
its first S-lay piggy-back pipelay. Other vessels were also used to
complete subsea installation activities. In addition, McDermott
also installed India's longest
dual riser.
"The safe completion of season one activities, in the
challenging offshore environments off the East Coast of
India and mitigated disruptions
from two cyclones, demonstrates McDermott's expertise in
engineering and execution of complex subsea projects in
ultra-deepwater depths," said Ian
Prescott, Senior Vice President for Asia Pacific. "We will build on our success to
help ensure the second campaign is accomplished safely with the
highest quality."
McDermott's first offshore campaign completion comes at a time
when McDermott continues to expand its operations in India, with over 1,500 personnel across
offices in Gurgaon, Chennai,
Pune and Mumbai. The McDermott Chennai and Gurgaon
offices are Centers of Engineering Excellence and Multiple Office
Project Execution Centers that support a range of front-end
engineering design to engineering, procurement, construction and
installation global projects.
The second offshore campaign includes the installation of
manifolds, manifold piles, pipelines, PLETs, jumpers and umbilicals
in ultra-deepwater depths, together with major brownfield
modifications to Reliance's' control and riser platform. The
significant* contract with Reliance on KG-D6 R-Cluster is scheduled
for completion in the second quarter of 2020. Satellite cluster
development, which was awarded as a separate stand-alone contract
in July 2018, is scheduled for
completion in the first quarter of 2021.
* - McDermott defines a significant contract as between USD
$250 million and USD $500 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. 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,
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 Senior Vice President, Communications, Marketing and
Administration
+1 281 870 5269
Gentry.Brann@McDermott.com
Local Asia Contact
Miki
O'Farrell
Manager, Marketing Asia Pacific
+603 2856 5806
MOFarrell@mcdermott.com
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SOURCE McDermott International, Inc.