J. Ray McDermott Successfully Completes Dual Lift of Medusa Topsides

abarrelfullabarrelfull wrote on 25 Feb 2013 18:59

May 27, 2003

J. Ray McDermott, S.A. ("J. Ray"), a subsidiary of McDermott International Inc. (NYSE:MDR)("McDermott"), announced today that it has successfully installed the 5,390 short ton topsides on the Medusa spar hull. The Medusa spar hull is currently moored in over 2,300 feet of water in the Gulf of Mexico in Mississippi Canyon block 582 approximately 100 miles south of New Orleans. The lift was completed utilizing J. Ray's Derrick Barge 50 and Shear Leg with a combined lift capacity of over 6,000 tons.

"I am proud of everyone involved with the dual lift of the Medusa topsides. Over the next several weeks, we will complete the commissioning of the Medusa spar platform with turnover to the customer scheduled for mid-July, 2003. Medusa is our first EPIC spar project, and its completion is an important milestone for J. Ray," said Bob Deason, president and chief operating officer of J. Ray.

"We plan to use similar dual lift procedures for the Devils Tower and Front Runner topsides. The flawless execution of the Medusa lift validates our strategy for the marine installation portion for these two remaining EPIC spar projects," continued Deason.

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