McDermott International, Inc. (NYSE: MDR) (“McDermott”) announced today the award of a subsea contract to its Malaysian subsidiary for deepwater offshore engineering and construction, including transportation and installation of subsea infrastructure.
The award is for the Kikeh Subsea Expansion Project by Murphy Sabah Oil Co., Ltd. for the engineering, procurement, construction, installation and commissioning of pipelines and an umbilical and subsea hardware package. Engineering work on the Kikeh Subsea Expansion Project has started and is expected to be completed in the third quarter of 2012.
The Kikeh area is located 120 kilometers northwest of Labuan, Malaysia, in 1,350 meters of water and is Malaysia’s first deepwater oil discovery. Murphy, as Operator, has an 80% working interest in the Kikeh Field with Petronas Carigali Sdn. Bhd. holding the remaining 20% interest.
McDermott is a leading engineering, procurement, construction and installation (“EPCI”) company focused on executing complex offshore oil and gas projects worldwide. Providing fully integrated EPCI services for upstream field developments, the Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning. McDermott’s customers include national and major energy companies. Operating in more than 20 countries across the Atlantic, Middle East and Asia Pacific, the Company’s integrated resources include more than 15,000 employees and a diversified fleet of marine vessels, fabrication facilities and engineering offices. McDermott has served the energy industry since 1923.
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Louise Denly Annie Tan
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