McDermott confirms EPCI Middle East Contract

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McDermott confirms EPCI Middle East Contract

McDermott International, Inc. announced a letter of award for a significant* contract for the engineering, procurement, construction and installation (EPCI) services for an offshore Middle East redevelopment project.

They plan to fabricate and install four wellhead topsides, a manifold platform and jacket together with associated subsea pipelines and brownfield tie-in works. The combined total weight of the structures is approximately 7,000 tons (6,400 metric tons) and includes 47 miles (75 kilometers) of onshore and offshore pipeline and umbilicals.

“McDermott has been working in the Middle East region for 54 years and has a proven track record of executing complex offshore projects with certainty. The award of this redevelopment contract is a strong testament to our ability to combine the right offshore assets and superior execution strategy,” said Linh Austin, McDermott Vice President, Middle East and Caspian.

They have a long-standing relationship with this client and vast experience in this field. This award builds on the successful delivery of four jackets in 2016 as part of an earlier phase in the redevelopment project.

Fabrication work is expected to begin in the third quarter of 2018 and offshore installation is planned to begin in the second quarter of 2019. The contract award is expected to be reflected in McDermott’s 2017 fourth quarter backlog.

* McDermott defines a significant contract as between USD $250 million and USD $500 million.

About the Company
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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 employees, a diversified fleet of speciality 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. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates.

Source: www.mcdermott.com

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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.