McDermott International, Inc. (NYSE: MDR) (“McDermott”) announced today that the Derrick Barge 101 was recently mobilized to Indonesia to perform fast-track heavy-lift work for a client offshore Indonesia.
McDermott Derrick Barge 101 was recently mobilized to Indonesia to perform fast-track heavy-lift work. (Photo: Business Wire)“Response time to fast-track work is just one of the key elements to a successful project outcome,” said Hugh Cuthbertson, Vice President and General Manager, Asia Pacific. “Our Project Management and Offshore Resources teams expedited the planning process, while ensuring compliance to safety throughout, to achieve mobilization within just a few days. In addition, this opportunity is an example of our efforts to improve asset utilization beyond the requirements of our existing backlog.” This contract is included in McDermott’s first quarter 2014 backlog. ABOUT McDERMOTT 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. To learn more, please visit our website at www.mcdermott.com FORWARD LOOKING STATEMENTS 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 and uncertainties that may impact McDermott's actual results of operations. The forward-looking statements in this press release include, among other things, the expected scope, execution and timing associated with this 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 uncertainties and risks, including without limitation, changes in project design or schedules, contract cancellations, change orders and other modifications, and difficulties executing on 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. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.