J. Ray McDermott Awarded Marine Installation Contract

abarrelfullabarrelfull wrote on 02 Aug 2012 08:06

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McDermott International, Inc. (NYSE:MDR) ("McDermott"), announced today that a subsidiary of J. Ray McDermott, S.A. ("J. Ray") has been awarded the transportation and installation of the In-Field Flowlines, including the associated pipeline end terminations (PLETs) and steel catenary risers (SCRs), for Chevron's Tahiti Project in the Gulf of Mexico.

The scope of work includes the installation of two 6" and four 9" in-field flowlines. All six flowlines will be installed with a PLET assembly near the associated drill center manifold including static flowline segments and in-line buoyancy, which will transition into an SCR that terminates at the Tahiti Spar. The work is expected to be performed by the Derrick Barge 50 in 2007.

The Tahiti development consists of a truss Spar located in Green Canyon Block 641 in 4,000' water depth, the Production Drill Center North (PN) located in Green Canyon Block 596, the Production Drill Center South (PS) in Green Canyon Block 640 and a Discovery Well located in Green Canyon Block 640.

At Chevron's option, the transportation and installation of the PN and PS manifolds together with an additional gravity-based tie-in sled located adjacent to the Discovery Well may be included as part of the scope of work. Chevron is expected to determine whether J. Ray will perform these additional activities in early 2006.

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