McDermott Awarded Project for Twelve Jackets Offshore Saudi Arabia

McDermott International, Inc. (NYSE: MDR) announced today that it has been awarded a large brownfield contract by Saudi Aramco for the engineering, procurement, construction and installation (EPCI) of twelve jackets for offshore oil and gas fields in Saudi Arabian waters. Work is scheduled for completion by the end of the first quarter of 2016 and will be included in McDermott's second quarter 2015 backlog. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20150526005306/en/ McDermott has been awarded a large brownfield contract by Saudi Aramco for the engineering, procurem ... McDermott has been awarded a large brownfield contract by Saudi Aramco for the engineering, procurement, construction and installation (EPCI) of twelve jackets, similar to these pictured, for offshore oil and gas fields in Saudi Arabian waters. (Photo: Business Wire) This is the second award McDermott has received in 2015 from Saudi Aramco and represents work scope bid under an existing Long-Term Agreement. In March 2015, the client awarded McDermott a brownfield contract for a power supply system replacement that utilizes McDermott's full EPCI expertise. "The project called for an extremely responsive bid phase and for fast-track execution," said Tom Mackie, McDermott's Vice President, Middle East. "Our ability to provide schedule certainty — through the provision of integrated EPCI services combined with the right technical solution to meet the challenging time constraints — was key to winning the project." Engineering and procurement is expected to be performed by McDermott's teams in Dubai, U.A.E., and Al Khobar, Saudi Arabia. The jackets are scheduled for fabrication by McDermott's Dubai, U.A.E.-based fabrication facility. Vessels from the McDermott global fleet are scheduled to undertake the installation work.