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LONDON, UK / ACCESSWIRE / January 26, 2018 / Active-Investors.com has just released a free research report on McDermott International, Inc. (NYSE: MDR) ("McDermott"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MDR as the Company's latest news hit the wire. On January 24, 2018, the Company declared that it has secured a large contract, which it defines as between $50 million and $250 million, from Saudi Aramco for the engineering, procurement, construction, and installation of 13 jackets in the Zuluf, Marjan, Berri, and Abu Safah fields, offshore Saudi Arabia. Register today and get access to over 1000 Free Research Reports by joining our site below:

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This is the fourth fast-track project to be awarded by Saudi Aramco in the last two years. The combined total weight of the structures is approximately 26,455 short tons (24,000 metric tons).

Contract to be Reflected in McDermott's Q1 2018 Backlog

The Company will use its engineering teams in Dubai and Chennai, with construction taking place at McDermott's facilities in Jebel Ali, Dubai and Dammam, Saudi Arabia. Vessels from McDermott's global fleet are scheduled to undertake the installation and completions work. The contract will be reflected in the Company's Q1 2018 backlog and work is expected to be carried out through the second half of 2018.

Awards from Saudi Aramco Demonstrates Confidence in McDermott's Experience and Proven Performance

Linh Austin, Vice President, Middle-East and Caspian of McDermott, stated that this award is testament to Saudi Aramco's confidence in McDermott's ability to execute fast-track projects on schedule and to the highest standards of delivery. Austin added that since 2001, McDermott has built and installed over 121 jackets for Saudi Aramco with a total weight of over 220,462 tons (200,000 metric tons). Not only is McDermott able to meet the schedules of fast-track projects, but the Company consistently delivers them with outstanding safety performance.

Projects Awarded by Saudi Aramco in 2017

In November 2017, McDermott won a major contract, defined as between $750 million and $1,500 million, from Saudi Aramco for EPCI services in the Safaniya onshore and offshore field. The contract, awarded under the long-term agreement with Saudi Aramco, included the full suite of EPCI services including design, fabrication, installation, and pre-commissioning of 9 slipover jackets, 10 production deck modules, an electrical distribution platform, and associated cables and pipelines.

In January 2017, the Company was awarded a contract award from Saudi Aramco for the EPCI services of four jackets and three gas observation platforms offshore Saudi Arabia. The total weight of all structures combined was 11,595 tons. In the same month, McDermott secured a substantial contract from Saudi Aramco for EPCI services in the Safaniya and Zuluf oilfields offshore Saudi Arabia.

About McDermott International, Inc.

Founded in 1923 and headquartered in Houston, Texas, 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.

About Saudi Aramco

Saudi Aramco is the state-owned oil Company of the Kingdom of Saudi Arabia and a fully-integrated, global petroleum and chemicals enterprise. The Company's oil and gas production infrastructure leads the industry in scale of production, operational reliability, and technical advances.

Stock Performance Snapshot

January 25, 2018 - At Thursday's closing bell, McDermott International's stock was marginally down 0.89%, ending the trading session at $8.90.

Volume traded for the day: 16.14 million shares, which was above the 3-month average volume of 4.72 million shares.

Stock performance in the last month ? up 31.46%; previous three-month period ? up 44.25%; past twelve-month period ? up 8.67%; and year-to-date - up 35.26%

After yesterday's close, McDermott International's market cap was at $2.51 billion.

Price to Earnings (P/E) ratio was at 16.64.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Equipment & Services industry.

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