McDermott Hosts Celebratory Event for Abkatun-A2 Sail Away -- Largest Oil Platform Constructed in Mexico in 10 Years
- Project is McDermott's largest project in size and total value to date for PEMEX
- Platform was safely and efficiently fabricated and constructed in Mexico at McDermott's world-class facility in Altamira using the Company's One McDermott Way Operating Model
- Project is scheduled to be installed in November with commissioning expected to be completed in February of 2019
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
[email protected]
Global Media Relations
Gentry Brann
Global Vice President, Communications
+1 281 870 5269
[email protected]
SOURCE McDermott International, Inc.
Share this article