McDermott Wins Offshore Project in the Middle East

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McDermott Wins Offshore Project in the Middle East

HOUSTON, McDermott International, Inc. (NYSE:MDR) announced today that it has been awarded a large contract by an upstream oil and gas operator for a project offshore in the Middle East.

The scope includes engineering, procurement, fabrication, transportation and installation of offshore pipelines. Engineering and offshore mobilization of McDermott’s in-house vessels has commenced for this fast-track assignment, with project completion expected by the end of this year.

“The Middle East market remains very active and continues to be a focus for McDermott and we are pleased with our customers’ continued trust in our capabilities in executing offshore EPCI work in the region,” said Linh Austin, Vice President, Middle East Area. “The nature of this fast-track project was ideally suited to our vertically integrated capabilities involving our engineering, project management and procurement teams based in Dubai, as well as our marine assets in the region that addressed all the project drivers to deliver the best customer-focused solution.”

The contract award will be reflected in McDermott’s first quarter 2016 backlog.

Source: www.mcdermott.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.