McDermott Wins Jack and St. Malo Subsea Project

Press Release
Monday, April 25, 2011

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. Offshore installation will begin in early 2014 using McDermott's subsea construction vessel North Ocean 102 ("NO102") and the DB16.

"We are pleased to be able to support Chevron's deepwater developments in the Gulf of Mexico and believe that our combined solution of NO102's high payload and top tension capacity coupled with our ability to fabricate the high spec jumpers in house provides a unique benefit for this project's delivery," said Stephen M. Johnson, President and Chief Executive Officer of McDermott.

The NO102 and its crew will transport and install more than 60 miles of umbilicals, including three control and two power umbilicals. The jumpers and remaining subsea controls system components, including more than 80 flying leads, will be installed by the DB16.

Located in up to 7,150 feet of water in the US Gulf of Mexico Walker Ridge lease blocks, the Jack South and St. Malo North and South subsea drill centers tie back to the Jack and St. Malo floating production platform.


Source: McDermott

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