- Load-out marks first jacket delivered to Saudi Aramco from McDermott's recently opened Dammam fabrication yard
- Jacket was completed on schedule and installed in Safaniya oil field
- Dammam yard surpasses 600,000 man-hours lost time incident free
McDermott has extensive experience offshore Saudi Arabia, having worked in the region for more than 50 years. In 2015, McDermott won a lump sum contract from Saudi Aramco for brownfield work, which was the largest single award for McDermott's Middle East Area operations in Company history. More recently, McDermott was awarded an EPCI contract for four jackets and three gas observation platforms, the third fast-track project awarded to McDermott by Saudi Aramco in the past 18 months.This milestone follows McDermott's recent announcement that it had signed a strategic Memorandum of Understanding with Saudi Aramco for a long-term land lease at the new maritime facility at Ras Al Khair in Saudi Arabia, currently being developed by Saudi Aramco. 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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 13,500 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. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, 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 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 scope, execution and timing associated with the projects discussed in this press release. 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: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings. 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, 2016 and subsequent quarterly reports on Form 10-Q. 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.
McDermott International, Inc.Investor RelationsTy LawrenceVice President, Treasurer and Investor Relations+1 email@example.comGlobal Media RelationsAdam MorganDirector, Global Communications+1 firstname.lastname@example.orgLocal Middle East Zoe Keenan Communications ManagerMiddle East & Caspian +971 (0) 4 804 email@example.com