McDermott Secures Offshore Contract for the Kasawari Carbon Capture and Storage Project in Malaysia

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Jan 16, 2024, 07:00 ET

HOUSTON, Jan. 16, 2024 /PRNewswire/ -- McDermott has been awarded an offshore contract from Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) for the Kasawari Carbon Capture and Storage (CCS) project, located offshore Sarawak in East Malaysia.

Under the scope of the contract, McDermott will perform transportation and the structural installation of a 138-kilometer (85 miles) pipeline section, a 15,000 metric tonne (MT) CCS platform jacket, and bridge connecting to the existing central processing platform.

"Set to become one of the largest offshore CCS projects in the world, the Kasawari CCS award showcases the valuable role we have in supporting our clients through the energy transition," said Mahesh Swaminathan, McDermott's Senior Vice President, Subsea and Floating Facilities.

The installation activities will be performed by one of McDermott's heavy-lift and pipelay vessels.

Operated by PETRONAS Carigali Sdn Bhd, the Kasawari CCS project is expected to reduce carbon dioxide volume emitted via flaring by 3.3 MtCO₂e per annum.

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 value, 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