McDermott International, Inc. (NYSE: MDR) (“McDermott”) announced today that a consortium, which includes subsidiaries of McDermott and PT Encona Inti Industri, has been notified of its selection as the successful bidder in the tender process for an engineering, procurement and construction (“EPC”) contract for the Gendalo-Gehem natural gas development in East Kalimantan, Indonesia.
Award of the contract will be subject to various conditions, including government and regulatory approvals and final investment decision.
McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex Offshore and Subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our clients include national and major energy companies. Operating in more than 20 countries across the world, our locally focused and globally integrated resources include approximately 14,000 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923 and is listed on the New York Stock Exchange.
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In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott International, Inc. cautions that statements in this press release which are forward-looking and provide other than historical information involve risks, contingencies and uncertainties that may impact McDermott's actual results of operations. The forward-looking statements in this press release include, among other things, conditions for contract award, including government and regulatory approvals and final investment decision associated with the project. Although McDermott's management believes that the expectations reflected in those forward-looking statements are reasonable, McDermott can give no assurance that those expectations will prove to have been correct. Those statements are made based on various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including without limitation, government and regulatory approvals and final investment decision associated with the project. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see McDermott's annual report on Form 10-K for the year ended December 31, 2013 and subsequent quarterly reports. This news release reflects management's view as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.