 | Company | Services | Technology | Projects | Locations | Human Resources | Suppliers | Contact Us | Search |  |
|
 |
Home > Press Room PRESS RELEASE: May 27, 2007 Saudi Aramco Awards Major Offshore Contract to J. Ray McDermott
|
|
J. Ray leverages its expertise to provide design engineering, procurement, construction, installation, and hook-up for 13 offshore platforms J. Ray McDermott, S.A. (J. Ray) announces the award of a four year project by Saudi Aramco to engineer, procure, construct, install (EPCI), hook-up and commission Manifa Field Facilities in the Arabian Gulf. “It’s a matter of great pride for us to be associated with this mega project,” said Hafez Aghili, J. Ray’s senior Vice President and General Manager for the Middle East and India. “Our safe delivery of past Saudi Aramco structures won us a certificate of appreciation from our customer last December; we expect to achieve high safety and quality performance on this project as well.” The project is scheduled to start with engineering in May 2007 and fabrication of platforms having a combined weight of over 16,700MT at the Jebel Ali (United Arab Emirates) facility in September 2007. J. Ray will engineer from the regional headquarters in Jebel Ali as well as from its engineering office in Chennai, India, established last year. The project also includes modification work scope which entails design, procurement, installation, hook-up and commissioning of communication packages on 26 existing platforms. “We recently embarked on an ambitious development plan for our fabrication yard at Jebel Ali. The plan involves capacity expansion and deployment of additional equipment, resulting in increases in both efficiency and workable man-hours. Together with our experienced project team, we are well-prepared to successfully execute the Manifa project,” said Aghili. The project will be competed by 2011. During this four year period, J. Ray’s marine vessels will carry out offshore construction and hook-up of the facilities in several campaigns. McDermott is an engineering and construction company, with specialty manufacturing and service capabilities, focused on energy infrastructure. McDermott's customers are predominantly utilities and other power generators, major and national oil companies, and the United States Government. With its global operations, McDermott operates in over 20 countries with more than 20,000 employees, and can be found on the internet at www.mcdermott.com. In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott International, Inc. cautions that statements in this press release which are forward-looking and provide other than historical information involve risks and uncertainties that may impact McDermott's actual results of operations. The forward-looking statements in this press release include, among other things, the value, work scope and timing associated with Saudi Aramco’s Manifa Field Facilities project. Although McDermott's management believes that the expectations reflected in those forward-looking statements are reasonable, McDermott can give no assurance that those expectations will prove to have been correct. Those statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including without limitation change orders and other modifications to contracts. 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 risk factors, please see McDermott's annual report on Form 10-K for the year ended December 31, 2006 filed with the Securities and Exchange Commission. For more information, please contact:
Louise Denly
|
|