J. Ray McDermott: Press Release

Houston-based J. Ray McDermott (“J. Ray”) recently bid farewell to the Maloob-C drilling platform, built under a contract for PEMEX Exploración y Producción (“PEMEX”), Northeast Marine Region. The project is located in the Ku-Maloob-Zaap field in the Bay of Campeche, Mexico, in 264 feet of water.

“This was the first project for our fabrication facility at Altamira, Mexico,” said John Nesser, J. Ray’s Executive Vice President and Chief Operating Officer. “Building on the successful completion of the Maloob-C platform and with the facility’s capabilities and deep water access to the Gulf of Mexico, we look forward to expanding our relationship with PEMEX on future projects.”

Work on the drilling platform began in February 2008. Fabrication of the two-level, 2,535-ton deck and the 3,527-ton jacket, factory testing, onshore pre-commissioning and operational testing, load out and sea fastening were all performed by J. Ray at Altamira. Additionally, more than 3,300 tons of piles were fabricated at J. Ray’s Morgan City, Louisiana facility for the project using the facility’s rolling mill.

Engineers from J. Ray’s Altamira office supervised the detailed engineering, and

J. Ray’s procurement group purchased materials, equipment and instrumentation not provided by PEMEX. At peak construction, J. Ray had more than 500 craftsmen and professionals involved with the project.

J. Ray will mobilize its construction vessels from the U.S. Gulf of Mexico to perform the platform installation, and the project is expected to be completed during the third quarter of 2009.

The Maloob-C Platform is designed to sustain 18 wells. Oil production will require gas lift at first stage, and electro-centrifugal or multiphase pumping systems will be used on future stages. Production will be sent to the Ku-H drilling platform for separation. The objective is to increase oil and gas production of Ku-Maloob-Zaap field in the Bay of Campeche, Mexico.

J. Ray McDermott, S.A., a subsidiary of McDermott International, Inc. (NYSE:MDR), and its subsidiaries provide engineering, construction, procurement, installation and project management services to 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 more than 20 countries with more than 25,000 employees.

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 McDermott’s actual results of operations. The forward-looking statements in this press release include statements concerning the project execution of the PEMEX Exploración y Producción Maloob-C 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 by using various underlying assumptions and are subject to numerous uncertainties and risks. 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, 2008 and its quarterly reports on Form 10-Q.