PRESS RELEASE: January 25, 2007

J. Ray McDermott awarded pipeline installation work in Russia

McDermott Caspian Contractors, Inc. (McDermott), the Caspian operating subsidiary of J. Ray McDermott, S.A., was recently awarded a sub-sea pipeline installation project by Lukoil-Nizhnevolzhskneft, LLC. (Lukoil), a subsidiary of OJSC LUKOIL Oil Company, for the Yuri Korchagin field. The field is located 180km outside Astrakhan city in the Russian sector of the Caspian Sea.  

“For more than 20 years McDermott has undertaken a number of projects in the Caspian Sea and in Russian waters,” said Dan Houser, Vice President and General Manager, Caspian operations. “The volume of construction work in Russia’s oil and gas sector is gathering pace and we are proud to be working with Lukoil on this world-class project.” 

McDermott will install a 58km 12” oil pipeline which will connect the ice-resistant fixed platform No.1 (LSP-1) to a single point mooring south of the Yuri Korchagin field. Under the contract McDermott will also carry out design engineering, procurement, installation and testing of the sub-sea pipeline, with project support from the company’s worldwide facilities in Azerbaijan and the United Arab Emirates.

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