J. Ray McDermott Contract for Wellhead Platform

Tuesday, June 29, 2010

Houston-based J. Ray McDermott (J. Ray), a subsidiary of McDermott International, Inc., announced the award of a contract by PEMEX Exploración y Producción for completion engineering, procurement, construction, load-out and sea fastening of the Kuil-A wellhead platform. The platform is located in the Kuil field in the Bay of Campeche, within the PEMEX Southwest Marine Region.

“This new construction contract with PEMEX reinforces J. Ray's strength in the conventional shallow water platform sector of the offshore oil and gas industry in the Gulf of Mexico," said Steve Johnson, J. Ray’s President and Chief Executive Officer. “We have performed previous work for PEMEX from our Altamira facility since it opened for business in 2008. The award of this new project is an opportunity to continue development of our Altamira facility, to support programs in the region.

J. Ray’s fabrication facility in Altamira, Mexico will undertake the construction of the approximately 4,000-tonne four-leg jacket, piles, and two-level deck, including heli-deck. The project is expected to be completed during the second quarter of 2011.

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