McDermott wins contracts totaling more than $700 million
2011.03.02 -
Contracts
McDermott International, Inc. (NYSE:MDR) (“McDermott”), announced today that certain of its subsidiaries in the Middle East and Caspian region were recently awarded a number of contracts for offshore engineering and construction projects ranging from installation, through to full EPCI work, as part of our $2 billion of fourth quarter bookings.
The contracts in the Arabian Gulf, Indian Ocean and Caspian Sea are included in McDermott's fourth quarter 2010 backlog, and have a combined value in excess of $700 million.
The turnkey EPCI award is for a number of platforms and subsea facilities in the Arabian Gulf, as well as modifications to existing infrastructure and more than 100 kilometers of rigid and flexible pipelines and cables. Structures will be built at McDermott’s Jebel Ali fabrication facility in the United Arab Emirates, and crews of McDermott’s DB27, the newly built pipelay barge LB32 and in-house dive support vessels are expected to support the installation scope.
The second award is an installation of a jacket and topside for a customer off the east coast of India. The work will be performed by McDermott’s DB101 and is scheduled to begin in the first quarter of 2011.
Finally, in the Caspian Sea, McDermott will undertake engineering, procurement, fabrication, offshore installation and pre-commissioning of pipelines, cables, umbilicals and subsea tie-ins. The installation will be performed by McDermott operated vessels with support from McDermott’s engineering office in Dubai, United Arab Emirates and Baku, Azerbaijan.
Cameron (NYSE: CAM) has signed a three-year worldwide preferred supplier agreement with Schlumberger Integrated Project Management (IPM) for the supply of a wide range of flow equipment products and services. As part of the agreement, Cameron will provide Schlumberger IPM with all surface, subsea, drilling, measurement, compression and downstream equipment on a worldwide basis.
ClampOn has been awarded a contract for delivery of five subsea ClampOn DSP Leak Monitors to the Tampen Link project in the Norwegian sector in the North Sea (Sept 07). ClampOn will supply its ultrasonic non-intrusive acoustic Leak Monitors to Technip Norge AS on behalf of Statoil. The Leak Monitors will be retrofitted on two 20” gas valves on the seabed to verify/disprove through-valve gas leakage. These valves are currently open and they will be shut to close off the bypass alternative.
Helix Energy Solutions (NYSE: HLX) announced today that it has received a Letter of Intent ("LOI") for the installation of the subsea infrastructure for the VIC/P44 Stage 2 Development project in the Otway Basin offshore Australia. Participants in the VIC/P44 permit are Santos Limited (Operator) 50%, Peedamullah Petroleum Pty Ltd (Australian Worldwide Exploration) 25% and Mitsui E&P Australia Pty Ltd. 25%.
Velosi Limited Velosi or the Group, a provider of asset integrity and HSE services to a number of major national and multinational oil and gas companies, is pleased to announce that it has been re-awarded a contract from Mobil Producing Nigeria, for the next three years with an option to extend for a further one year.
Fugro has been awarded a contract to perform a detailed marine survey in the Mediterranean Sea to select the best route for the GALSI gas pipeline from Algeria to Southern Sardinia and then from Northern Sardinia to the mainland of Italy. The contract value is approximately EUR 18 million.
