McDermott International, Inc. (NYSE: MDR) (“McDermott”) is pleased to announce the successful completion of the Jack and St. Malo project for Chevron U.S.A. Inc. The project involved the installation of jumpers, flying leads, subsea pump stations, umbilicals and subsea landing of some of the industry’s largest and complex umbilical end terminations to a host floating production platform in 7,200 feet of water 279 miles offshore Louisiana. The project is part of the first stage of development of the Jack South, St. Malo South and St. Malo North Drill Centers.

McDermott subsea construction vessel NO102 installed umbilicals totaling 65 miles along with other r ...

McDermott subsea construction vessel NO102 installed umbilicals totaling 65 miles along with other related subsea structures. (Photo: Business Wire)

McDermott executed in-house fabrication of 21 high specification rigid flowline, manifold and pump jumpers and installed the structures using the Derrick Barge 50 (“DB50”) with its specialized deepwater lowering system. In addition, more than 80 flying leads, five additional rigid production well jumpers and other subsea control and production boost components were installed by the DB50 – including three pump stations each weighing 209 tons to a depth of 6,988 feet. The DB50 was assisted by a fleet of up to 12 support vessels delivering material from various Gulf Coast fabrication and staging facilities to the offshore installation site.

Additionally, three control and two power umbilicals totaling 65 miles were transported and installed by the subsea construction vessel North Ocean 102 (“NO102”) along with other related subsea structures.

“Our ability to fabricate the jumpers in house and utilize the combined strengths of the DB50’s deepwater lowering system and the high payload and top tension capacity of the NO102’s 330-ton vertical lay system allowed McDermott to deliver an integrated subsea solution for our client on this complex deepwater project,” said Tony Duncan, Executive Vice President Subsea. “As the industry moves into deeper water, McDermott continues to tailor its subsea engineering expertise, fabrication facilities, and global fleet of specialized vessels to meet the evolving technical needs of our clients.”

Located in the Gulf of Mexico Walker Ridge Area, the Jack and St. Malo fields are jointly being developed with a host floating production unit.

NOTES TO EDITORS

The DB50
The DB50 is a dynamically positioned (DP2), premier heavy-lift vessel capable of lifting surface loads up to 4,400 ST. For more information download the data sheet at http://www.mcdermott.com/News/Publications/DB50-imperial.pdf

The NO102
The NO102 is a fast-transit, dynamically positioned vessel with a 330-ST vertical lay system for installing flexible subsea product across a variety of water depths. For more information download the data sheet at http://www.mcdermott.com/News/Publications/NO102-imperial.pdf

ABOUT McDERMOTT

McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex Offshore and Subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our clients include national and major energy companies. Operating in more than 20 countries across the world, our locally focused and globally integrated resources include approximately 14,000 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923 and is listed on the New York Stock Exchange.

To learn more, please visit our website at www.mcdermott.com

In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this press release which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott's actual results of operations. These forward-looking statements include McDermott’s continued tailoring of its subsea engineering expertise, fabrication facilities and global fleet of specialized vessels to cater to client needs. 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: changes in project design or schedules, contract cancellations, change orders and other modifications, and difficulties executing on projects. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see McDermott's annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2013 and subsequent quarterly reports on Form 10-Q. This press release reflects management's views 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.