HOUSTON, Feb. 5, 2020 /PRNewswire/ -- McDermott International, Inc., today announced it has been awarded a large* contract by BHP to provide subsea umbilicals, risers and flowlines (SURF), transportation and installation (T&I), pre-commissioning of one jacket and topsides for the Ruby Project, offshore Trinidad and Tobago.
The Ruby Field resides in the Block 3(a) development area of Trinidad & Tobago, approximately 28 miles (45 kilometers) off the northeastern coast of Trinidad.
"We are pleased to support BHP in this new contract that continues to build on our successful track record in Trinidad," said Mark Coscio, Senior Vice President, North, Central and South America. "The combination of heavy lift and pipelay capabilities of McDermott's Derrick Lay Vessel (DLV) 2000 are best suited for this project as it can efficiently transport and install both the flowlines and platform."
McDermott successfully executed a similar installation scope for the BP Trinidad & Tobago (BPTT) Angelin project last year. It also was awarded a contract in January of 2019 by BPTT for the engineering, procurement and construction (EPC) of the Cassia Compression Platform, located 35 miles (56 kilometers) southeast off the coast of Trinidad.
Engineering and Project Management of the project will be performed in Houston with engineering support from McDermott's Mexico City office. McDermott's DLV 2000 is scheduled to transport and install the flowlines and platform.
The project will begin immediately with completion projected in August 2020. The contract award will be reflected in McDermott's fourth quarter 2019 backlog.
* - McDermott defines a large contract as between USD $50 million and $250 million.
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 more than 42,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.
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 backlog may be viewed as an indicator of future revenues or profitability, and 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.
Vice President, Investor Relations
+1 832 513 1068
Global Media Relations
Senior Vice President, Communications, Marketing and Administration
+1 281 870 5269
Local Area Media Relations:
Manager, North, Central and South America (NCSA) Area Communications & Marketing
+1 281 870 5447
SOURCE McDermott International, Inc.