• D LV 2000 joins 13-vessel fleet serving offshore, subsea and deepwater customers
  • DLV 2000 will be a key asset for field development in remote locations through its combination of versatile construction capabilities and transit speed
  • DLV 2000's first assignment will be in Australia
  • Ceremony attended by more than 400 McDermott and Keppel employees, customers and guests

                                  HOUSTON and SINGAPORE, April 14, 2016 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) today formally named its flagship Derrick Lay Vessel 2000 (DLV 2000) during a ceremony at the Keppel Singmarine Shipyard in Singapore.
DLV 2000
The DLV 2000 pipelay vessel under way during sea trials off Singapore in April 2016.
Naming ceremony for DLV2000
Leaders from McDermott International and Keppel are joined by the vessel's lady sponsor and celebrants during the naming ceremony of the DLV 2000, a high-specification deepwater derrick lay vessel at the Keppel Singmarine Shipyard.

Photos accompanying this release are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5f73091a-d618-4808-9296-87f121f2aa90

http://www.globenewswire.com/NewsRoom/AttachmentNg/f57aadc4-de83-416b-9be3-1f3f7d8affa8

Mrs. Brenda Cuthbertson, wife of 38-year McDermott employee and Asia Area Vice President Hugh Cuthbertson, serves as the vessel's godmother and named the DLV 2000 with the traditional breaking of champagne during the ceremony. The ceremony was attended by invited guests, McDermott and Keppel executives and employees and was followed by guided tours and lunch on the vessel.

The DLV 2000 is a class 3 dynamically positioned vessel combining a 2,200-ton revolving crane with a deepwater under deck S-lay pipelay system configured to install pipelines with diameters ranging from 4.5 to 60 inches in water depths up to 10,000 feet. The vessel can accommodate up to 400 personnel to facilitate large hook-up and commissioning projects, has a fast transit speed and incorporates a large, 43,000 square foot open deck to allow the transportation and assembly of large subsea structures; enabling safe and efficient stand-alone operations in remote areas.

"The DLV 2000 will add high-end capabilities and increased versatility to McDermott's global fleet by utilizing a single vessel on projects requiring a combination of pipelay and heavy lift with appropriate deck space for structures and offshore workforce accommodation that would normally require multiple vessels; therefore, enabling a more efficient operation for our customers and a larger market access for McDermott," said David Dickson, McDermott's President and Chief Executive Officer.

"Through the long established relationship between Keppel and McDermott, the DLV 2000 has been built to a world class specification and on budget," Dickson said. "The vessel represents a strategic component of McDermott's long-term plan to deliver the best in class projects to our global customer base."

The DLV 2000's first assignment is scheduled offshore Western Australia on the INPEX Ichthys LNG Project. The DLV 2000 is expected to join the project in May 2016 for several months as part of McDermott's work program by providing heavy construction support for the subsea system. Work is scheduled to be performed in conjunction with McDermott's other new subsea installation vessel, the Construction Support Vessel 108 (CSV 108), which is working successfully on the project. The CSV 108 is expected to undergo an upgrade later in 2016 to install a Vertical Lay System and Reel Deployment System for use on the project and will then be referred to as the Lay Vessel 108 (LV 108).

Additionally, the DLV 2000 is scheduled to support the transportation and installation contract awarded by Woodside Energy Limited for the Greater Western Flank Phase 2 subsea pipeline and installation project in Western Australia. 

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 10,300 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.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, please visit our website at www.mcdermott.com.

Forward-looking statementIn accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott 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. These forward-looking statements include, among other things, statements about the expected specifications and timing of delivery of the DLV2000, as well as its expected scope, execution and timing as associated with the INPEX Ichthys project and the Greater Western Flank Phase 2 subsea pipeline and installation project. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and business partners, difficulties executing on the project and changes in contracting terms and industry norms. 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 and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2015. This press release reflects management's views 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.

These photos are also available via AP Photo Express.
McDermott International, Inc.Investor Relations Kathy MurrayV.P., Treasurer and Investor Relations+1.281.870.5147	kamurray@mcdermott.comMedia RelationsRichard Goins	Director, Global Communications+1.281.870.5932		rgoins@mcdermott.com 	Area CommunicationsJuliana TanAsia Area Communications(65) 6668.5428yjtan@mcdermott.com

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