 | Company | Services | Technology | Projects | Locations | Human Resources | Contact Us | Search |  |
|
 |
Home > Press Room PRESS RELEASE: March 11, 2009 J. Ray McDermott Wins More Work in Saudi Arabia
|
|
J. Ray McDermott, S.A. (“J. Ray”), a subsidiary of McDermott International, Inc., announced today that it was recently awarded additional work under the Long-Term Agreement (LTA) with Saudi Aramco. This latest project, which is expected to continue through 2010, consists of the procurement, fabrication and installation of three decks, jackets, associated pipelines, and the installation of three new shallow water crude oil pipelines, totaling 15 kilometers in length, in the South Safaniya oil field, offshore Saudi Arabia. The pipelines will divert crude oil production flow from three existing platforms to other facilities before reaching the Safaniya onshore Gas Oil Separator Plant. “Repeat business is the reward for consistently delivering excellence on Saudi Aramco projects,” said Stewart Mitchell, Vice President and General Manager, J. Ray McDermott Middle East and India. “Our strong working relationship with Saudi Aramco for almost 40 years has enabled us to build mutual confidence, constantly improve our operations, optimize project performance and enhance value, which has fostered our long collaboration.” J. Ray McDermott’s first project for Saudi Aramco in the Safaniya field was in 1972 when it constructed 14 platforms and laid 77 kilometers of pipeline. Other recently awarded Saudi Aramco work under the LTA includes the procurement, fabrication and installation of a jacket and deck for the Berri field and a four-pile jacket in the Karan field, offshore Saudi Arabia. Rabih Makarem, LTA Project Manager for J. Ray McDermott, added, “We enjoy full Saudi Aramco support for our strict commitment to safe operations and, as a result, we have an excellent safety record on Saudi Aramco projects. We were recently awarded the 2007 Contractor Excellence Award and two Safety Recognition Awards for our performance on Saudi Aramco projects.”
J. Ray McDermott, S.A., a subsidiary of McDermott International, Inc., and its subsidiaries provide engineering, construction, procurement, installation and project management services for offshore oil and gas developments worldwide. McDermott International, Inc. 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 25,000 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 which provide other than historical information, involve risks and uncertainties that may impact actual results. The forward-looking statements in this press release include statements regarding the combined value, scope and execution of the listed Aramco projects. 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 by using various underlying assumptions and are subject to numerous uncertainties and risks, including, but not limited to, the risk that McDermott may experience delays, changes, cancellations or other difficulties executing such 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 and other risk factors, please see McDermott's annual report on Form 10-K for the year ended 31 December 2008.
For more information, please contact:
Louise Denly
Angela Herbert
|
|