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MCDERMOTT

Independent Committee to Consider Merger Proposal

J. Ray McDermott, S.A. announced a proposal was made by the Board of Directors of McDermott International, Inc., to the Independent Committee of J. Ray McDermott's Board of Directors. Under the proposal, McDermott International would acquire all the publicly held shares of JRM. The proposal calls for a merger in which each publicly held share of J. Ray McDermott would be converted into 1.15 shares of McDermott International, Inc. common stock. McDermott International currently owns 63 percent of the common stock of JRM. The Independent Committee of J. Ray McDermott's Board will take the proposal of a merger with McDermott International, Inc. under consideration.


McDermott International Terminates Proposal

The Finance Committee of the Board of Directors of McDermott International, Inc. has terminated discussions with the Independent Committee of the Board of Directors of its majority-owned subsidiary, J. Ray McDermott S.A., concerning the possible acquisition by McDermott International of the publicly held shares of J. Ray McDermott. The committee said the discussions were terminated because the parties were unable to reach an acceptable financial agreement


J. Ray Morgan City Facility Awarded Contract

J. Ray McDermott, S.A. ("J. Ray"), a subsidiary of McDermott International Inc. ("McDermott"), announced that its Morgan City, Louisiana fabrication facility has been awarded a contract for the construction of flues, ducts and reactor panels by The Babcock & Wilcox Company ("B&W"), also a McDermott subsidiary. The contract is in support of B&W's Kansas City Power & Light LaCygne #1 SCR project and is valued at approximately $4 million


J. Ray McDermott Awarded Contract

According to reports, J. Ray McDermott Eastern Hemisphere Ltd. (J. Ray), a subsidiary of J. Ray McDermott, S.A., was awarded a contract by ExxonMobil Middle East Gas Marketing Ltd. to provide engineering, procurement, construction and installation (EPCI) services for two wellhead platforms and pipelines, as part of the Al Khaleej Gas (AKG) Development Phase 2 Offshore Expansion Project.


McDermott in JV with China Shipbuilding

McDermott International Inc said that a subsidiary of group company J Ray McDermott has set up a joint venture with a unit of state-owned China Shipbuilding Industry Corp. The joint venture - Qingdao McDermott Wuchuan Offshore Engineering Co Ltd - plans to establish a facility in Qingdao, in eastern China's Shandong province. The new company plans to focus on the construction of floating production, storage and off-loading (FPSO) vessels, US-listed McDermott said in a statement


McDermott Awarded Anadarko GoM Contract

Derrick Barge 50: Photo courtesy of McDermott

McDermott International, Inc. says that one of its subsidiaries has entered into an agreement with Anadarko Petroleum Corporation to provide construction and decommissioning support services employing Derrick Barge 50 (“DB50”) on the Red Hawk project, located in Garden Banks 876. The DB50 will remove mooring lines for the Red Hawk spar and provide accommodation and decommissioning support services. Mobilization is expected during the third quarter 2014.


J.Ray McDermott Begins Construction on Casino Barges

The Houston Business Journal has reported that J. Ray McDermott Inc has begun construction on two specialty barges for Harrah's Entertainment Inc. The two casino barges currently under construction will become part of Harrah's Horseshoe Casino expansion project in Hammond, Ind. Each measures 276 feet long by 102 feet wide and 22 feet deep, with a weight of about 1,700 tons. They will be combined with four other barges being built elsewhere to create a 564-foot long


Judge Rules for B&W and McDermott Regarding Insurance for Asbestos Claims

In a ruling issued January 4, 2002, Judge Sarah S. Vance of the U.S. District Court for the Eastern District of Louisiana granted Babcock & Wilcox's and McDermott International, Inc.'s (NYSE: MDR) motions for summary judgement against a group of London underwriters and dismissed the declaratory judgment action filed by the insurers. The underwriters had sought to annul an agreement which acknowledges coverage for B&W's asbestos exposure and sets forth the agreements of the insurers to pay


J. Ray Awarded Malaysia Pipeline Contract

J. Ray McDermott, S.A. announced that its Malaysian affiliate Barmada McDermott Sdn. Bhd. (BMD) has won a fast track transportation and installation contract from ExxonMobil Exploration and Production Malaysia Inc. for the 2.4km, 12 inch full well stream (FWS) replacement pipeline between Guntong-C and Guntong-A, off the east coast of Peninsular Malaysia. The existing Guntong-C riser and a section of the existing pipeline will be replaced with a 2


Subsea Tie-in Connectors: Aker to Deliver for Ichtys LNG Project

Subsea Tie-in Connector: Photo credit Aker Solutions

Aker Solutions contracted by a subsidiary of McDermott for the delivery of subsea tie-in connectors to the Australian Ichthys LNG Project. The scope of work in the contract, valued at NOK 500-million, includes the delivery of 6"-18" horizontal and vertical diverless tie-in connectors to be included in the McDermott umbilicals, risers and flowline scope for the Ichthys LNG Project. Engineering, procurement, construction and installation specialist, McDermott


New Versatile McDermott CSV Christened

CSV 108: Photo McDermott

McDermott International, Inc. informs of the christening of its new Construction Support Vessel 108 (“CSV 108”) at Metalships & Docks shipyard in Vigo, Spain. The shipyard hosted a naming ceremony attended by Tony Duncan, Executive Vice President


McDermott Engineers Created the World’s Largest Specialty Valves

Wojciech Zmudzinski, Chief Pipeline Engineer for McDermott (right) with an INPEX Ichthys Project representative during a valve manufacturing inspection at a factory in Italy.

 After nearly two years of planning and development McDermott's team has achieved a first of a kind in the valve industry; creating the world’s largest forged body specialty valve, in collaboration with a valve manufacturer. The valves are destined for the INPEX-operated Ichthys LNG


Ocean Installer Enters Australian O&G Market

Normand Vision & Normand Mermaid.

Ocean Installer’s said that it has established office in Perth, Australia to meet demand for subsea construction services.  “This is the beginning of our presence in another promising region in line with Ocean Installer’s growth strategy


McDermott Installs Mooring Tower off Indonesia

McDermott Successfully Completes Transportation and Installation of Banyu Urip Single Point Mooring Tower, Offshore Indonesia

McDermott International, Inc. has successfully concluded the transportation and installation of a Yoke-type Single Point Mooring tower and hook up to a Floating Storage Offloading (“FSO”) vessel for PT Rekayasa Industri offshore Indonesia in the Banyu Urip field


Horizon Marine Opens Brazilian Office

Horizon Marine, Inc. announced the opening of its Brazilian office and the hiring of André Gellers as Country Manager. Andre has worked for more than 10 years supporting the Brazilian oil and gas industry, managing projects related to environmental licensing, emergency response


McDermott Signs Agreement for North Sea Spoolbase

© McDermott International

McDermott International, Inc. announced that one of its subsidiaries has signed an option agreement with PD Ports which gives it the exclusive right to operate a spoolbase to serve projects in the North Sea. McDermott expects to have the facility available for projects in early 2015.


McDermott Elect G.P. Luquette Board Chairman

Gary P. Luquette: Photo courtesy of Houston Strategy Forum

Provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide, McDermott International, say that Gary P. Luquette has been elected as non-executive Chairman of McDermott’s Board of Directors, effective May 6, 2014.


Rigid Reel-Lay Pipe-in-Pipe Installed Offshore Malaysia

McDermott’s Lay Vessel North Ocean 105 (courtesy McDermott)

McDermott International, Inc. reports that its subsidiary has become the first to install rigid reel-lay pipe-in-pipe in Asia-Pacific for the Siakap North-Petai (SNP) development project offshore Malaysia. At more than 3,900 feet (1,190 meters)


McDermott Fast-Track Indonesia Offshore Heavy Lift Barge

DB 101: Image credit McDermott

McDermott International, Inc. apprise that the Derrick Barge 101 was recently mobilized to Indonesia to perform fast-track heavy-lift work for a client offshore Indonesia. Response time to fast-track work is just one of the key elements to a successful project outcome,” said Hugh Cuthbertson


Helix to Provide McDermott ROV Services

Image courtesy of Helix

Helix Energy says that its Robotics subsidiary, Canyon Offshore, Inc., has reached an agreement with a subsidiary of McDermott International, Inc. to provide remotely operated vehicle (ROV) services and equipment for McDermott’s fleet of subsea construction and pipelay support vessels.


McDermott Signs Agreement for Gulfport Spoolbase

McDermott International, Inc. (NYSE: MDR) said that one of its subsidiaries has signed a lease agreement with the Mississippi Development Authority and the Mississippi State Port Authority for the exclusive right to operate a spoolbase and marine operations base in the Port of Gulfport


Neil Mackintosh apponted President of INTECSEA

  WorleyParsons announced the appointment of Neil Mackintosh as INTECSEA president, following the retirement of Uri Nooteboom. Mackintosh will join INTECSEA on July 8, 2014 and be based in Houston, Texas. Departing president Uri Nooteboom will assist Mackintosh with his transition until


McDermott to Auction Fabrication Yard Assets

A joint venture of five industrial auction companies will sell the physical assets of the 300-acre McDermott fabrication facility in Amelia, La. McDermott continues to operate its other fabrication facilities at multiple locations worldwide.


McDermott Awarded Megalodon Platform Installation

Photo: McDermott

McDermott International, Inc. announced today that one of its subsidiaries was awarded a contract to provide transportation and installation services to Walter Oil & Gas Corporation for the Megalodon platform destined for South Timbalier Block 311 in the Gulf of Mexico


McDermott Wins Fast-track Build Contract in Indonesia

McDermott Batam Island Yard

McDermott International, Inc. announced today that one of its subsidiaries has been awarded a fast-track fabrication contract by PC Ketapang II Ltd., a subsidiary of PETRONAS for the BTJT-A Jacket as part of the Bukit Tua Development Project in the Ketapang block of East Java, Indonesia






 
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