Mcdermott Will News

16 Apr 2019

Cameron LNG Project in Final Stage

Image: McDermott

McDermott International, provider of technology, engineering and construction solutions to the energy industry, and its joint venture partner, Chiyoda International Corporation, a U.S.-based wholly-owned subsidiary of Chiyoda Corporation, Japan, announced that Train 1 of the Cameron LNG project in Louisiana has reached the final commissioning stage.This includes the introduction of pipeline feed gas into Train 1 of the liquefaction export facility, the precursor for the production of liquefied natural gas (LNG)…

15 Apr 2019

Rever Offshore Appoints Ops Director

Image: Rever Offshore

The subsea services provider to the oil and gas industry Rever Offshore, has announced the appointment of Bob Bryce to the newly-created role of Operations Director.The provider of fully integrated subsea construction and offshore management services said in a press release that  Bryce’s 40-year career in the oil and gas industry has seen him hold senior leadership positions on a global basis with key subsea-surf contractors, including McDermott, Subsea7 and Technip.He joins Rever’s executive team with a remit to oversee the operations, assets & services and QHSE functions.

19 Feb 2019

Nakilat, McDermott Form Fabrication JV

Image: Nakilat

Qatar's Nakilat and McDermott are establishing a 60:40 joint-venture (JV) company that provides offshore and onshore fabrication services in Qatar."The strategic partnership aims at increasing productivity levels at Nakilat’s world-class Erhama Bin Jaber Al Jalahma Shipyard and developing local construction capabilities to support the increasing demand for the construction of offshore and onshore structures in Qatar," said the Qatari marine company providing the essential transportation…

30 Jan 2019

Optimarin Sees Early Order Surge in 2019

Photo: Optimarin

In the quarter of a century since its formation in 1994, ballast water treatment (BWT) specialist Optimarin has never experienced a year quite like 2018.The Norwegian headquartered firm has revealed that the previous 12 months saw it sell more than 100 systems and achieve record revenues. However, according to company CEO Tore Andersen, 2019 is already shaping up to set a new standard, with the orderbook currently five times the size it was at this point in 2018. Revenues, he says…

20 Dec 2018

Royal Caribbean Selects Optimarin BWMS for Three Ships

Grandeur of the Seas(Photo courtesy of Optimarin)

Royal Caribbean International chose Optimarin to provide its USCG compliant Optimarin Ballast System (OBS) for three flagship vessels. Optimarin has now retrofitted its BWMS tech on Independence of the Seas and Mariner of the Seas, with installation on Grandeur of the Seas set for Q1 2019.Optimarin has now sold approximately 700 OBS units, with more than 500 installed and operational, of which approximately 250 are retrofits.Alongside full IMO and USCG compliance, OBS has certification from a comprehensive range of classification organizations, including ABS, BV, DNV-GL, LR & MLIT Japan.

12 Dec 2018

McDermott Awarded Contract for CB&I Storage Tanks

Image: McDermott

McDermott International, the fully integrated provider of technology, engineering and construction solutions to the energy industry, announced a contract award for CB&I storage tanks from Nan Ya Plastics Corporation.McDermott's scope of work includes the engineering, procurement, fabrication and construction of four internally framed stainless-steel umbrella roof tanks in Point Comfort, Texas.

21 Nov 2018

Optimarin to Supply Seven OBS to Fednav

Photo: Optimarin

Optimarin signed a contract to supply seven of its USCG-approved Optimarin Ballast Systems (OBS) to Fednav, Canada's largest ocean-going dry-bulk shipowning and chartering group. Five of the units will be fitted on existing vessels within the 63-strong Fednav fleet, with two deliveries set for newbuilds. The order comes on top of agreements for five units made last year, signaling a growing relationship between the two market leaders.With recent orders for multiple systems from Höegh Autoliners…

30 Oct 2018

McDermott Gets Saipem as Partner for NextDecade

Pic: McDermott

McDermott International announced that it plans to partner with the Italian oil and gas industry contractor Saipem S.p.A. to bid for NextDecade's planned Rio Grande LNG project in Brownsville, Texas."Our joint bid with Saipem will feature optimized execution strategies that result in increased certainty on schedule and cost as compared to other LNG projects on the U.S. Gulf Coast," said David Dickson, President and Chief Executive Officer of McDermott."Pursuant to NextDecade's competitive process…

07 Aug 2018

McDermott Wins Shell Contract for Gulf of Mexico

Image: McDermott

McDermott International announced a contract from Shell Exploration and Production Company, a subsidiary of Royal Dutch Shell (Shell) plc, for subsea umbilical and flowline installation at the Perdido development, located 230 miles south of Galveston, Texas, in the Gulf of Mexico."This award strengthens McDermott's relationship with Shell as we work together to safely and competitively deliver this next-generation deepwater energy project," said Richard Heo, McDermott's Senior Vice President for North, Central and South America.

01 Aug 2018

McDermott Pipelayer Set for Major Refit

(Image: Royal IHC)

The Netherlands based Royal IHC said it has been awarded a contract to modify McDermott International Inc.’s pipelay and construction vessel Amazon. The scope includes the delivery of an innovative and complete J-lay system to the Houston based company.IHC will be responsible for the overall management of the modification project, from the design through to the integration of the new equipment. It includes the construction and installation of the IHC-designed and patented J-lay system…

22 May 2018

Grainger Named IMCA President and Chairman

Iain Grainger (Photo: IMCA)

Trade association International Marine Contractors Association (IMCA) announced that Iain Grainger is its new President and Chairman of the Board. Grainger, Vice President Commercial at McDermott, takes over from Harke Jan Meek.Pieter Heerema from Allseas becomes the new Vice President.

10 May 2018

McDermott Closing CB&I Deal

Offshore engineering firm McDermott International Inc will close its acquisition of Chicago Bridge and Iron Co NV on Thursday, creating an integrated onshore and offshore services group that will expand its presence in the Middle East.McDermott's offshore engineering and construction work will combine with CB&I's onshore skills including liquefied natural gas (LNG) and power plants. McDermott will bolster its service offerings in Saudi Arabia, where it is already adding facilities and has contracts with national oil company Saudi Aramco.David Dickson, McDermott's chief executive officer who this week met with Saudi Aramco executives in Houston, said on Tuesday the kingdom "is going to be a big part of our future.

04 May 2018

Subsea 7 Withdraws Bid for McDermott

Image: Subsea 7

Subsea 7 S.A. announced that it had taken note of McDermott International shareholders' vote in favor of a combination with Chicago Bridge & Iron Co (CB&I).In light of this vote, Subsea 7 confirms that the proposal made to McDermott's Board of Directors on April 17 and published on April 23 is no longer valid.Last week, McDermott International reiterated what it described as the “unanimous determination” of the company’s board of directors to reject an unsolicited proposal from…

02 May 2018

McDermott, CB&I Shareholders Approve Merger

(File photo: CB&I)

McDermott International shareholders on Tuesday approved a merger with Chicago Bridge & Iron Co that creates a vertically integrated onshore and offshore engineering and construction company, thwarting an attempt by offshore drilling contractor Subsea 7 to block the deal.More than 50 percent of McDermott shareholders supported the deal and approved a 3-to-1 reverse stock split, according to a spokesman. CB&I shareholders also voted in favor the merger, the companies said, and the combination is expected to close on May 10.Shares of CB&I were up about 6 percent…

25 Apr 2018

Subsea 7: Offer Could Change if McDermott Cooperates

File Image: A Subsea 7 offshore support vessel. CREDIT: Subsea 7

Norwegian offshore oil services firm Subsea 7 is open to potentially sweetening its $2 billion offer for McDermott if the U.S. company would work with it to identify additional benefits of a deal, Subsea said on Wednesday. The Norwegian firm's comments come a week before McDermott's shareholders vote on a planned combination with Chicago Bridge and Iron (CB&I), which McDermott's board has recommended its investors to support while rejected Subsea's proposal "Subsea 7 is open to…

23 Apr 2018

Subsea 7 Makes Hostile Bid for McDermott

File Image: A Subsea 7 offshore support vessel. CREDIT: Subsea 7

Offshore oil services firm Subsea 7 has made an unsolicited offer worth about $2 billion for U.S. rival McDermott, potentially breaking up the U.S. company's agreed deal with onshore engineering firm Chicago Bridge & Iron (CB&I).The deal could make Oslo-listed Subsea 7 the market leader in supplying and installing subsea equipment for oil and gas firms with a combined market share of 24 percent, followed by TechnipFMC with 20 percent and Saipem with 15 percent, an Oslo-based consultancy…

23 Mar 2018

Asian Oil, Gas Producers Stepping up Activity after Long Lull

© nattapon7 / Adobe Stock

Asia's oil and gas producers are starting to revive projects aimed at deflating years of ballooning energy imports after new investment dried up following the 2014 industry crisis. Spending has so far been driven mainly by state oil companies such as India's ONGC, Thailand's PTTEP and PetroVietnam, which need to produce more oil and gas to ensure their countries' energy security, executives said this week during an industry event in Kuala Lumpur, Malaysia. Asia is by far the biggest, fastest-growing consumer of oil, yet its output is falling faster than in any other region.

18 Mar 2018

McDermott and CB&I Conclude Merger

Image: CB&I

McDermott International and CB&I announced that the companies have received antitrust clearance in Russia for their proposed combination. With this clearance, McDermott and CB&I have received all the required competition authority approvals for the transaction. As previously announced on December 18, 2017, McDermott and CB&I agreed to combine in an all-stock transaction to create a premier vertically integrated onshore-offshore company with an enterprise value of approximately $6 billion.

13 Mar 2018

BP Selects McDermott, BHGE for Subsea Contracts

Photo: McDermott International, Inc

McDermott International and Baker Hughes (BHGE), a GE company  announced the selection of front-end engineering design (FEED) studies in advance of a substantial engineering, procurement, construction and installation (EPCI) contract for BP’s Tortue/Ahmeyim Field Development, a major gas project located on the maritime border of Mauritania and Senegal. During this initial engineering phase, McDermott will work on defining the subsea umbilicals, risers and flowlines (SURF) scope for the project, while BHGE will focus on the subsea production system (SPS) scope.

26 Dec 2017

McDermott Wins Tyra EPC Work near Denmark

A view of Tyra East in the Danish North Sea Photo: McDermott International, Inc.

McDermott International announced a substantial contract award from Mærsk Olie og Gas A/S (Maersk Oil) for engineering, procurement, construction and commissioning (EPCC) services for the Tyra Redevelopment project, located offshore in the Danish sector of the North Sea. “This award heralds our return to the North Sea and is a part of our strategic growth strategy,” said Scott Munro, Vice President of Americas, Europe and Africa. “By executing our part of the Tyra Redevelopment project from Kuala Lumpur and Batam…

17 Dec 2017

DOF Sells Skandi Marstein

Photo: DOF ASA

Norwegian supply shipping company DOF sold and delivered the 1996 built platform supply vessel (PSV) "Skandi Marstein" to a new owner. The sale will not have any significant liquidity impact or impact on the accounts. The vessel has been in lay up since late autumn 2017. The sale is in line with DOF Group's strategy to divest in the oldest part of the fleet. Last month, Skandi Niteroi, a Brazilian built pipelay support vessel (PLSV) owned by the joint venture between DOF Subsea (50%) and TechnipFMC (50%), awarded a contract by McDermott on the Atlanta Project for Queiroz Galvão.

03 Dec 2017

SolstadFarstad Wins New Contracts in Australia

Photo: SolstadFarstad

SolstadFarstad ASA (SOFF) has been awarded several new contracts for the provision of vessels within Australia. McDermott International Inc. affiliated company, MAPL have awarded the provision of a General Purpose Support Vessel, Far Stream, and pipe-haul PSV’s performing services for work Offshore Western Australia. The contract is due to commence during Q1/Q2 2018 and the combined vessels utilization is approx. 200 days. Cooper Energy has supplemented their earlier award of Far Saracen and Far Senator for their upcoming Bass Strait drilling campaign…

24 Aug 2017

Shipbuilding: Mega Yards

Arctic Firsts: Arc 7 LNG carriers, including the Risunok and the ice-breaking Christophe de Margerie (pictured here). (Photo Courtesy: Yamal LNG and Sovcomflot)

The Woodmac report we saw offered us cause for pause — “Strong activity from the (major oil companies)” while “national oil companies have tightened their purse strings.” What Maritime Reporter found, was that national oil companies — nation-builders, for many — are putting their money in affiliate shipyards. The hope of two, new shipbuilding giants is jobs, innovation, national survival and export security. The model is to invite those who have done it before: Koreans, Japanese, French and a contractor with offshore and marine experience.

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