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Home > Press Room PRESS RELEASE: February 1, 2010
J. Ray McDermott
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Keppel FELS
Joint Venture Awarded Major Offshore Project
Significant Scope to be Performed by J. Ray.
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J. Ray
McDermott (“J. Ray”) will undertake fabrication and
installation work for the P-61 Tension Leg Wellhead
Platform (“TLWP”) in more than 3,871 feet of water, for
the Papa Terra Joint Venture, consisting of Petrobras
(operator) and Chevron.
The
overall P-61 project — comprising design, engineering,
construction, transportation, installation, and a
three-year limited operations contract — was awarded to
FloaTEC Singapore Pte Ltd (FloaTEC Singapore), a joint
venture between Keppel FELS Ltd (Keppel FELS) and J.
Ray.
Almost all the work
will be carried out through the combined resources of
Keppel FELS,
J. Ray and FloaTEC LLC (FloaTEC), the US-based joint
venture company that will perform global engineering and
basic design work.
“This
project combines the proprietary technology, global
engineering excellence, project management, construction
resources and broad industry experience of three leading
offshore specialists to provide the right deepwater
solution for this challenging deepwater environment,”
said Stephen Johnson, President and CEO of J. Ray
McDermott.
The TLWP will be constructed by
Keppel’s BrasFELS yard in Angra dos Reis,
Tendon sections will be manufactured
at J. Ray’s multi-joint fabrication facility at Morgan
City where heavy-wall steel catenary riser systems have
been successfully delivered for other deepwater
projects.
The topsides and hull will be
integrated at a near shore site and following subsequent
hook-up and commissioning work at quay side, the TLWP
will be wet-towed to the offshore installation site to
hook-up to pre-installed tendons. J. Ray will
pre-install the anchor piles and tendons at the offshore
installation site prior to the arrival of the TLWP. The
integrated TLWP will be positioned over the tendons and
subsequently connected and tensioned to ensure
stability. The project is targeted for completion by mid
2013.
P-61 TLWP will work alongside the P-63 Floating
Production Storage Offloading vessel in Brazil’s
Papa-Terra field in the Campos Basin.
Papa-Terra is a heavy oilfield project located at the
Exploratory Block BC-20 in
Brazil's
the Campos Basin. The offshore
field is located in a water
depth of 3,871 feet.
FloaTEC LLC
is a US-based deepwater joint venture company between J.
Ray McDermott and Keppel FELS. FloaTEC LLC specializes
in designing deepwater floating production systems
(FPS), with a focus on its proprietary designs in
tension leg platform, semi-submersible and Spar
technology. The Company extends and integrates its
parents' resources and capacities to create value for
its clients by assuming the engineering and management
role of program and project interfaces.
J. Ray McDermott,
a subsidiary of McDermott International, Inc.
(NYSE:MDR), provides 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.
Keppel FELS
is a subsidiary of Keppel Offshore & Marine Ltd (Keppel
O&M), a wholly-owned company of Keppel Corporation
Limited. Keppel O&M is a leader in offshore rig design,
construction and repair, ship repair and conversion and
specialized shipbuilding. Its near market, near customer
strategy is bolstered by a global network of 20 yards
and offices in the Asia Pacific,
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
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 value, and
project execution, of the Petrobras Papa Terra 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, 2008 and its
quarterly reports on Form 10-Q.
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For more information, please contact:
For J. Ray McDermott:
For Keppel FELS:
For FloaTEC:
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