McDermott Awarded Contract by BHP for Trion FPU Pre-FEED Des
HOUSTON, March 30, 2020 /PRNewswire/ -- McDermott International, Inc. announced today it has been awarded a sizeable* contract by BHP Billiton Petróleo Operaciones de México, S. De R.L. De C.V. (BHP) to provide pre-front-end engineering design (pre-FEED) services for a floating production unit (FPU) that will be installed in a water depth of approximately 8,200 feet (2,500 meters) at the Trion field, located approximately 19 miles (30 kilometers) south of the U.S./Mexico border and approximately 112 miles (180 kilometers) from the Mexican coastline.
The pre-FEED scope includes engineering tasks related to the configuration, sizing and preliminary analysis of the FPU, including topsides, hull, risers and mooring.
McDermott will work in partnership with Houston Offshore Engineering (HOE) and Wood on the pre-FEED, with McDermott's Houston office leading engineering services—supported by its Mexico City office—and HOE and Wood providing engineering for the hull and topsides, respectively. McDermott will perform project management, execution planning and estimation services. Installation studies will be performed by McDermott's Marine Operations and technical support for fabrication and integration planning will be handled by McDermott's Mexico-based Altamira Fabrication Yard.
McDermott is currently delivering the subsea umbilicals, risers and flowlines (SURF), transportation and installation (T&I), pre-commissioning of one jacket and topsides for the BHP Ruby Project, located offshore Trinidad and Tobago. It is also providing FEED activities for an FPU for the Scarborough field gas development in Western Australia, of which BHP is a partner with Woodside.
The project will begin immediately with completion projected in the third quarter of 2020. The contract award will be reflected in McDermott's first quarter 2020 backlog.
* - McDermott defines a sizeable contract as between USD $1 million and USD $50 million.
McDermott is a premier, fully integrated provider of technology, engineering and construction solutions to the energy industry. For more than a century, customers have trusted McDermott to design and build end-to-end infrastructure and technology solutions to transport and transform oil and gas into the products the world needs today. Our proprietary technologies, integrated expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. Customers rely on McDermott to deliver certainty to the most complex projects, from concept to commissioning. It is called the "One McDermott Way." Operating in over 54 countries, McDermott's locally focused and globally integrated resources include more than 42,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.
In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this press release which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott's actual results of operations. These forward-looking statements include, among other things, statements about the expected scope, execution and timing of the project discussed in this press release. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see McDermott's annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2019 and subsequent quarterly reports on Form 10-Q. This press release reflects management's views as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.
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