J. Ray McDermott Announces New Project Awards Totaling Approximately $390 Million

abarrelfullabarrelfull wrote on 26 Feb 2013 12:43

Latest News

{"module":"feed\/FeedModule","params":{"src":"http:\/\/killajoules.wikidot.com\/feed\/pages\/pagename\/blog%3A_start\/category\/blog\/limit\/10\/t\/My+Blog","limit":"4","module_body":"* %%linked_title%%"}}
  • Want a weekly review of refining news?

Sept. 27, 2004

J. Ray McDermott, S.A. ("J. Ray"), a subsidiary of McDermott International Inc. ("McDermott") (NYSE:MDR), announced today that its McDermott Caspian Contractors Inc. ("MCCI") subsidiary was awarded three new projects from the Azerbaijan International Operating Company ("AIOC") for a combined value of approximately $390 million.

The first project is for the pipeline installation for the Phase 2 development of the Azeri, Chirag and deepwater portion of the Gunashli (ACG) field, in the Azerbaijan sector of the Caspian Sea. Contracts of this type are typically valued at $160 million. The second project awarded, valued at approximately $140 million, is for the fabrication, assembly, hook-up and commissioning of the Drilling, Utilities and Quarters (DUQ) integrated deck for the Phase 3 development of the ACG field. Part of the work scope will be performed by the MCCI Joint Venture with Baku Deep Water Jacket Factory. The third project awarded is for the installation of infield pipelines and subsea water injection facilities for the ACG development Phase 3, valued at approximately $90 million.

"These awards will utilize MCCI's experience in the region and with previous AIOC projects," said Bob Deason, president and chief operating officer of J. Ray. "We're very pleased that MCCI will continue to serve an important role in AIOC's development plans."

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License