McDermott Signs Agreement for Gulfport Spoolbase

McDermott International, Inc. (NYSE: MDR) said that one of its subsidiaries has signed a lease agreement with the Mississippi Development Authority and the Mississippi State Port Authority for the exclusive right to operate a spoolbase and marine operations base in the Port of Gulfport. McDermott expects the facility, designed to serve projects from the Gulf of Mexico, will be available in early 2016.

The new facility in Gulfport, located on the Mississippi coastline, will be used to fabricate steel pipe stalklines through advanced welding processes for use in offshore Reeled pipelay operations. The new 50 acre facility will feature a state of the art fabrication building and stalk racks as well as a dedicated dock for vessel berthing to accommodate reeling pipe onto McDermott’s fleet of specialized vessels for transport and installation offshore.

“Gulfport’s well established port with coastline access to the Gulf of Mexico makes it a prime location for the operation of a spoolbase,” said Tony Duncan, Executive Vice President Subsea. “This facility complements our efficiency and quality standards in Reel-lay and our high performance vessels, positioning McDermott to serve our clients from the Gulf of Mexico. This commitment further supports the repositioning of our Company for long-term growth.”