McDermott L and T awarded offshore contract in India

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McDermott L and T awarded offshore contract in India

McDermott and Larsen & Toubro Consortium Awarded SURF Scope for ONGC Vashishta and S1 Development Project
•Significant award for major subsea project off the East coast of India
•McDermott and L&T Hydrocarbon Engineering consortium provide best in-market execution solution
•Greenfield deepwater award marks McDermott return to India

McDermott International, Inc. (NYSE:MDR) announced that a consortium of McDermott and L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Indian conglomerate Larsen & Toubro, was awarded a contract covering the engineering, procurement, construction and installation of major subsea field infrastructure for the Vashishta and S1 Development Project, a greenfield deepwater development off India’s East coast.

The scope of work includes supply and installation of a series of pipeline end terminations (PLETs) and in-line tee structures (ILT), a pipeline end manifold structure (PLEM), rigid jumpers and approximately 30 miles of umbilicals. The pipeline scope includes 64 miles of 14-inch dual rigid pipelines extending from the shallow water shore line to a maximum water depth of 2,300 feet.

“This award confirms the success of a strong consortium focused on delivering the best in-market solution for ONGC,” said David Dickson, McDermott’s President and Chief Executive Officer. “The combination of our best in class, deepwater, shallow water and onshore assets and capabilities created a compelling value proposition and also maximized the amount of work that will be undertaken in India. We look forward to working seamlessly with LTHE in delivering flawless execution for ONGC.”

“This collaborative consortium created value by utilizing LTHE’s strong execution capabilities and strategically located Kattupalli facility for fabrication, setting up a local spoolbase, and generating schedule efficiency by using a combination of deepwater reel-lay and S-lay in shallow water,” said Hugh Cuthbertson, McDermott’s Vice President, Asia. “In addition to the deployment of McDermott’s modular, portable spoolbase, McDermott’s Derrick Barge 30 (DB30) and deepwater North Ocean 105 (NO105) are also expected to be utilized.”

McDermott has a long history of working with ONGC, dating to the late 1970s, when McDermott installed the first offshore platform in Bombay High. More recently, McDermott successfully completed the engineering, procurement, construction and installation for the Cluster 7 wellhead project in May 2013.

The award will be included in McDermott’s 4Q 2015 backlog.

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 10,300 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. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, please visit our website

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.