BHP Awards McDermott Marine Installation Contract for Shenzi Subsea Multiphase Pumping Project

McDermott North Ocean 102 Vessel best suited with track record of safely executing projects with similar scopes

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Jun 16, 2021, 07:00 ET

HOUSTON, June 16, 2021 /PRNewswire/ -- McDermott International, Ltd today announced it has been selected by BHP to provide a marine installation campaign for the Shenzi Subsea Multiphase Pumping Project (SSMPP). The project is located approximately 138 miles (222 kilometers) offshore in the Gulf of Mexico at a water depth of 4,400 feet.

"We look forward to continuing our partnership with BHP through this latest contract award," said Mark Coscio, Senior Vice President for McDermott's North, Central and South America region. "McDermott's North Ocean 102 vessel is uniquely qualified to transport and install the materials and equipment for the Shenzi project scope—as well as perform pre-commissioning testing and other necessary surveys to safely deliver for the customer."

The scope of the contract includes: project management; detailed design and fabrication for a pump station suction pile; umbilical installation and flexible jumpers and flying leads installation; transport of all materials and equipment; and pre-commissioning services and other necessary testing and surveys.

Engineering, procurement and project management services will be led by McDermott's Houston engineering group. McDermott's North Ocean 102 vessel—which has a proven track record of safely executing similar projects—will be used for the transport and installation of the material and equipment.

The project will commence immediately and is expected to be completed in the summer of 2022.

McDermott is currently providing Front-End Engineering Design (FEED) of a Semi-submersible Floating Production Unit (FPU) for the Trion Project in the Gulf of Mexico, another BHP project, in partnership with Pemex. McDermott was previously awarded and completed services under an initial pre-FEED contract for the Trion FPU.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected scope, execution and timing of the project 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 or capital 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; actions by lenders or other creditors of McDermott 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. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott's management 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.

Contacts:

Investor Relations
Kevin Hargrove
Vice President and Treasurer
+1 281 870 5569
[email protected]

Global Media Relations
Reba Reid
Senior Director, Global Communications and Marketing
+1 281 588 5636
[email protected]

Local Area Media Relations:
Kristi Krupala
Manager, North, Central and South America (NCSA) Area Communications & Marketing
+1 281 870 5447
[email protected]

SOURCE McDermott International, Ltd