McDermott and TAS Institute Announce Strategic Collaboration to Advance Local Content in Sabah

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Jul 29, 2024, 07:00 ET

HOUSTON and SABAH, Malaysia, July 29, 2024 /PRNewswire/ -- McDermott and TAS Institute of Oil and Gas (TAS), the first integrated oil and gas training institute in Sabah, Malaysia, jointly announce the signing of a Memorandum of Understanding (MoU) for cooperation on research and development, training, capacity building, and institutional development.

McDermott is the first large multinational energy service provider to partner with a local training organization in the Sabah region. This collaboration with TAS seeks to upskill the local workforce and enhance institutional capabilities, to position Sabah as a strategic hub for energy projects in Southeast Asia. The initiative, borne out of a shared commitment to local content, was facilitated by LANDAS Gemliang, an industry provider of electrical instrumentation solutions in the region, and existing TAS partner. It was formalized at the opening ceremony of the 11^th edition of the Sabah Oil, Gas and Energy Conference and Exhibition, and also counts with the support of the Sabah Oil and Gas Services Council, for the commitment to local content in the region.

"This is an important collaboration as we continue to grow our portfolio in Malaysia," said Mahesh Swaminathan, McDermott's Senior Vice President, Subsea and Floating Facilities. "Working together, we will increase access to critical engineering resources to support the delivery of energy projects in the region. It also reflects our ongoing commitment towards institutional development and knowledge transfer, for a lasting positive impact on the country's energy sector."

"We are thrilled to partner with McDermott, an engineering powerhouse, that has Malaysia at the heart of its subsea operations," said Mr. Willie Ng, Executive Director of TAS. "Together we are committed to delivering tangible benefits to the local community by providing opportunities for our students and researchers and significantly contributing to the advancement of Sabah's oil and gas sector."

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. 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, other creditors, customers and other business counterparties 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.

About TAS Institute

TAS Institute of Oil and Gas was established in 2008 as the first oil and gas institute in Sabah providing professional, technical skills and safety courses that cut across different aspects of the oil and gas industry. Since inception, our petroleum training courses have been built on diverse everyday experiences unique to the oil and gas sector covering wide spectrum of practical knowledge required to overcome the complex challenges of the oil and gas industry. In addition, TAS also provides competency training such as Emergency Response Training and Assessment for Control Room Operator, Management of Major Emergency for Offshore Installation Manager and Terminal Manager, IECEx Certificate of Personal Competence (CoPC) Training and Assessment for the oil and gas majors in Malaysia and internationally, to learn more visit www.tas.edu.my

Contacts:

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

TAS Institute of Oil and Gas
Mohd Azhari Ahmad
TAS Local Content Initiative Partner
Chief Executive Officer/Project Director – LANDAS
+601123022791
[email protected]

SOURCE McDermott International, Ltd