McDermott Awarded Major EPCI Contract in Middle East

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McDermott Awarded Major EPCI Contract in Middle East

McDermott International, Inc. has announced a major* contract award from a Middle East customer for engineering, procurement, construction and installation (EPCI) services offshore in the Arabian Gulf.

“McDermott continues to receive considerable projects in the Middle East. This award signifies our long-standing position and strong relationships with our Middle East customers,” said Linh Austin, McDermott Vice President, Middle East and Caspian.

Work on the contract is expected to begin immediately and will be reflected in McDermott’s fourth quarter 2017 backlog.

McDermott plans to use its engineering and procurement teams in Dubai, Chennai and Al Khobar, Saudi Arabia. Construction is expected to take place at McDermott’s facilities in Dammam, Saudi Arabia and Jebel Ali, Dubai. Vessels from McDermott’s global fleet are scheduled to perform the installation work.

* – McDermott defines a major contract as between USD $750 million and USD $1,500 million.

About McDermott

McDermott is a leading provider of integrated engineering, procurement, construction and installation (“EPCI”), front-end engineering and design (“FEED”) and module fabrication services for upstream field developments worldwide. McDermott delivers fixed and floating production facilities, pipelines, installations 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 12,000 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 shares of its common stock are listed on the New York Stock Exchange. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates.

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.