McDermott Awarded Pre-FEED Contract for Proposed H2Perth Project from Woodside Energy

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Aug 15, 2022, 07:00 ET

HOUSTON, Aug. 15, 2022 /PRNewswire/ -- McDermott International has been awarded a Pre Front-End Engineering Design (Pre-FEED) contract from Woodside Energy for the proposed H2Perth project located in the Kwinana/Rockingham area in Western Australia.

Under the contract scope McDermott will provide pre-FEED services for a proposed export-scale production facility for renewable and lower-carbon hydrogen and ammonia. Hydrogen will be produced using electrolysis technologies and natural gas reforming with carbon emissions abated or offset.

"This award follows the successful completion of the concept study on H2Perth and decades of experience executing both onshore and offshore projects for Woodside Energy," said Tareq Kawash, Senior Vice President, Onshore of McDermott. "We are pleased to continue supporting Woodside's energy transition opportunities and are mutually aligned on the importance of driving lower-carbon energy to advance Australia's vision as a global leader in clean, innovative, safe and competitive hydrogen production."

Work on the project will be executed from McDermott's office in Perth, Australia, and its engineering centre of excellence in The Hague, the Netherlands.

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 and execution 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, 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.

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SOURCE McDermott International, Ltd