Houston-based J. Ray McDermott (“J. Ray”), a subsidiary of McDermott International, Inc. (NYSE: MDR), has been awarded a fabrication contract by BHP Billiton (Trinidad-2C) Limited for the Angostura Gas Export Platform project located 22 miles offshore the northeast coast of Trinidad. 

Under the terms of the agreement, J. Ray will fabricate a 4,000-ton integrated topside platform; an 800-ton, four-legged jacket; and 1,000 tons of piles.  The construction of these structures will take place at J. Ray’s Morgan City, Louisiana fabrication facility. 

“The award of the fabrication work for BHP Billiton is excellent news for our Morgan City fabrication facility,” said Bob Deason, President and Chief Executive Officer of J. Ray. “This project marks the third time in the recent past that Morgan City has performed the fabrication for facilities destined for Trinidad.  Our customers depend on the quality and the schedule assurance that J. Ray delivers.”

At peak, J. Ray will have almost 200 people in Morgan City working on the project.  Work is expected to be completed in second quarter 2010.

The Greater Angostura Development is located in block 2C offshore Trinidad and Tobago. 

 

J. Ray McDermott, S.A., a subsidiary of McDermott International, Inc. and its subsidiaries provide engineering, construction, procurement, installation and project management services to offshore oil and gas developments worldwide.

McDermott International, Inc. 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 more than 20 countries with more than 25,000 employees.

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 expected work scope and timing associated with BHP Billiton (Trinidad-2C) Limited’s Angostura 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, 2007 and its quarterly reports on Form 10-Q.