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Home > Press Room PRESS RELEASE: July 9, 2007 Barmada McDermott Awarded Multi-Year Offshore Contract |
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J. Ray McDermott, S.A. (“J. Ray”) announces the award of a multi-million dollar contract by Sarawak Shell Berhad(SSB)/Sabah Shell Petroleum Company (SSPC) Ltd. to Barmada McDermott Sdn. Bhd. (“BMD”) to transport and install offshore structures, pipelines, subsea cables/ umbilicals and associated components offshore Malaysia. BMD is affiliated with J. Ray and Bumi Armada Sdn Bhd. The contract encompasses an offshore installation program requiring several barges at various times over a three year period during calendar years 2007 through 2009, with options for additional work in 2010. "This contract is the largest award to date secured by BMD in Malaysia”, said Shaharudin Saleh, Managing Director of Barmada McDermott Sdn Bhd.. “We are pleased to be selected by SSB/SSPC to work on this extensive offshore program and we look forward to working together in the coming years ahead" Based on the current schedule, project work commenced in May 2007 for various offshore structures, pipelines, cables/umbilicals and their associated components. J. Ray McDermott, S.A. is a leading provider of solutions for the offshore field development industry worldwide and is a subsidiary of McDermott International, Inc. McDermott is an engineering and construction company, with specialty manufacturing and service capabilities, focused on energy infrastructure. McDermott’s customers are predominantly utilities and other power generators, major and national oil companies, and the United States Government. With its global operations, McDermott operates in over 20 countries with more than 20,000 employees, and can be found on the internet at www.mcdermott.com.
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 which 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 statements
concerning the project execution and timing of the
Sarawak Shell Berhad(SSB)/Sabah Shell Petroleum
Company (SSPC) Ltd 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 by using various underlying
assumptions and are subject to numerous
uncertainties and risks. 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 risk factors, please see McDermott’s annual
report on Form 10-K for the year ended December 31,
2006 and its quarterly reports on Form 10-Q.
For more information, please contact:
Louise Denly
Melanie Liew |
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