Stephen R Johnson News

McDermott and Ocean Installer have reached a mutual agreement to dissolve the interim North Sea project-specific alliance the two companies entered into in December 2012. Opportunities under the alliance have not materialized and in recent months it has become apparent that the long term strategic aims of both companies are not aligned, say McDermott. The relationship between them and Ocean Installer remains amicable. “As part of its drive to grow its activities in the subsea market, McDermott continues to build its internal assets and capabilities to facilitate growth in order to meet the current and future challenges of the subsea industry.

McDermott International, Inc. announced that certain of its subsidiaries have entered into an agreement in which McDermott has acquired all of the outstanding shares of the DeepSea operating companies. Terms of the purchase are not being disclosed. Headquartered in London, England, with engineering offices in Houston, Europe and Asia Pacific, DeepSea’s specialty services encompass subsea engineering and project management and extend from the wellhead to fixed, floating or shore-based production facilities for oil and gas operators worldwide.

McDermott International inks contract with Keppel Offshore & Marine for construction of a 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. “DLV2000 is expected to address a market demand we consider to be extremely robust for deepwater pipelines as well as our traditional markets,” said Stephen M. Johnson, Chairman, President and Chief Executive Officer. Developed by Keppel’s ship design arm, Marine Technology Development (MTD), DLV2000 is equipped to support advanced deepwater pipelay operations that will allow pipelines to be installed at depths of up to 10,000 feet.

McDermott International, Inc. (NYSE: MDR) (“McDermott”) announced that it will build another high capacity reeled pipelay vessel with top-tier payload capacity, tentatively named Lay Vessel 108 (“LV108”). The vessel will be a sister ship to the recently completed subsea construction vessel the Lay Vessel North Ocean 105 (“LV105”), and is to be built to similar specifications at Metalships and Docks S.A.U. shipyard in Vigo, Spain. “LV108 is another milestone in our vessel renewal program focusing on the subsea construction market for flexible and rigid product installation,” said Stephen M.

HOUSTON, Apr 25, 2011 (BUSINESS WIRE) -- McDermott International, Inc. (NYSE:MDR) ("McDermott"), announced today that one of its subsidiary companies was awarded fabrication and installation work from Chevron U.S.A. Inc. to support the development of the Jack and St. Malo fields in the Gulf of Mexico. The project will be included in McDermott's first quarter 2011 bookings. Work will begin in 2013, with the start of fabrication of 21 rigid jumpers at McDermott's Morgan City fabrication facility in Louisiana.

McDermott International, Inc. (NYSE:MDR) (“McDermott”), announced today that one of its subsidiaries, McDermott Caspian Contractors, Inc., and the State Oil Company of the Azerbaijan Republic (“SOCAR”) have formed a strategic alliance to implement a major pipelay and diving services contract in the Caspian region. The contract was recently awarded to McDermott in Azerbaijan as part of further development of the Azeri, Chirag and Deepwater Gunashli (“ACG”) field in the Azerbaijan sector of the Caspian Sea.

J. Ray McDermott, S.A. (J. Ray) announced the appointment of Stephen M. Johnson as President and Chief Executive Officer of J. Ray, effective January 1, 2010. Johnson is the current President and Chief Operating Officer of McDermott International, Inc. (McDermott), J. Ray’s parent company. He succeeds Robert A. Deason, who, as previously announced, will retire at the end of the year. Separately, McDermott announced that it plans to separate its operating subsidiaries, The Babcock & Wilcox Company (B&W) and J. Ray, into two independent, publicly traded companies.

UltraStrip Systems, Inc. announced that all documentation for its joint venture agreement with Kyokuto Boeki Kaisha, Ltd., Ihara Company, Ltd., Chiba Marine Yokohama Company, Ltd., Shuwa Kaiun Kaisha, Ltd., and Kamimura International Associates, LLC. has been completed. UltraStrip Japan, Ltd. will introduce UltraStrip’s patented, robotic M3500 water jetting system into the Japanese market. The M3500 is used for the surface preparation of metal surfaces, such as commercial and naval ship repair, storage, and fuel tanks. The Agreement calls for UltraStrip Japan to immediately lease one automated system. UltraStrip Systems, Inc. is a 49.9% partner in the Tokyo based joint venture. Stephen R.

UltraStrip Systems, Inc., the developer of a robotic ship-hull cleaning equipment, agreed to a five year agreement with Tecor-Tecnologia Anticorrosao, S. A. to be the exclusive ultra high pressure water jetting contractor at the ship repair yard of Lisnave, Estaleiros Navais, S.A. in Portugal. Lisnave, established in 1937, is one of the largest and busiest heavy marine ship repair yards in the world. The agreement reflects the shipping industry’s growing concern for protecting the world’s oceans and waterways through technology that concurrently maximizes cost efficiencies. UltraStrip President and CEO, Stephen R. Johnson, said, “Tecor and Lisnave’s choice of UltraStrip’s high production…

Secretary of the Navy, Dr. Donald C. Winter presents the Department of the Navy 2006 Safety Excellence Award for Marine Corps ground safety to Marine Corps Base Camp Lejeune at the Navy Memorial. During the ceremony, Winter discussed the importance of personal responsibility in regard to safety, and he stressed the need for the Navy and Marine Corps to reduce the number of motor vehicle accidents. Sixteen Safety Excellence Awards were presented to the top Navy and Marine Corps commands that demonstrated extraordinary excellence by sustained mission success with simultaneous exemplary safety performance. U.S. Navy photo by Mass Communication Specialist 1st Class Brandan W.