McDermott Wins Shipyard Contract for Construction of Deepwater S-Lay Vessel

McDermott International, Inc.

(“McDermott”) announced today that one of its subsidiaries has signed a contract for the design and construction of a new high-spec, highly capable dynamically-positioned combination S-Lay vessel with a 2,000-ton crane. The vessel, tentatively named Derrick Lay Vessel 2000 (“DLV2000”), will be constructed at Keppel Singmarine in Singapore and is expected to take approx 2.5 years to build.