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Hand-over of Su Tu Vang CPP

Maritime Activity Reports, Inc.

December 10, 2008

J. Ray McDermott, S. A. announced the handover of the Su Tu Vang Central Processing Platform for CuuLong Joint Operating Company (CLJOC) offshore Vietnam to enable production of first oil ahead of schedule.

The project sets a benchmark in the industry for fabrication completion of a 15,500MT float-over deck in 22.5 months. The accomplishment was celebrated at the Su Tu Vang first oil ceremony held in Hanoi.

“We were honored to participate in the Su Tu Vang CPP, a project that has given us immense satisfaction as we were involved from the first FEED engineering design through to completion. This is a gratifying achievement and is a notable bench mark in the industry for a project of this size and complexity,” said Scott Cummins, Vice President and General Manager of J. Ray’s Asia Pacific operations.

Comprised of the jacket, float-over topsides, pipelines, umbilicals, PLEMS and living quarters for 66 people, the Su Tu Vang CPP is a fully integrated EPCI project. This project included development of an eight-pile almost cuboid jacket and optimization of a construction-friendly float-over deck with unique design challenges that were overcome by the ingenuity of the joint J. Ray-CLJOC project team.

Upon the contract award in March 2006, the first steel cutting ceremony for the deck took place on September 28 2006, and within just 22.5 months, the deck was ready to sail, 100% mechanically complete, commissioned onshore and with no carry over work.

“We are proud to have delivered another project that has enabled first oil ahead of schedule; this is the second and most challenging project in collaboration with CLJOC since the start of our relationship in 2001 with the Su Tu Den project,” said Cummins.

(www.mcdermott.com)

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