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J. Ray McDermott Wins Offshore Trinidad Project from British Gas Trinidad and Tobago Ltd.

Business Editors

MORGAN CITY, La.--(BUSINESS WIRE)--July 27, 2000

McDermott International, Inc. (NYSE:MDR) announced today that its subsidiary, J. Ray McDermott, S.A., has contracted with British Gas Trinidad and Tobago Ltd. to design, fabricate and commission its Hibiscus project, an offshore drilling and natural gas production facility near the northern coast of Trinidad.

Terms of the contract are not being disclosed. The project will be completed by J. Ray McDermott's Western Hemisphere group.

Engineering of the jacket and topsides is being completed in Houston by J. Ray McDermott Engineering, LLC (JRME). Utilizing its proprietary MICROSAS software, JRME produced a design which significantly reduced jacket weight and cost, and performed a rigorous earthquake analysis of the structure.

Approximately 450 skilled workers already employed at J. Ray McDermott's fabrication facilities near Morgan City, Louisiana will be involved in the Hibiscus project. Workers have begun to erect a four-leg, eight skirt pile steel jacket and construct topsides that will allow for simultaneous drilling and production activities. The topsides will consist of a six-leg, three-level deck with a combined weight of 4,000 tons. Fabrication is scheduled for completion in the summer of 2001 with hook-up and commissioning slated for fall 2001.

"We are pleased to be selected by British Gas for such a significant project," said Bobby Rawle, president of J. Ray McDermott. "The full scope EPC capabilities we will employ on this project provide our customers with the advantage of uniform safety and quality programs as well as savings in cost and time."

The Hibiscus field is located in the North Coast Marine Area (NCMA) of northern Trinidad in approximately 500 feet of water. Hibiscus is expected to produce a daily average of approximately 400 million cubic feet of natural gas.

J. Ray McDermott is a leading worldwide marine construction company. Its services include design, fabrication, transportation, and installation of new and refurbished offshore platforms, installation of offshore pipelines, and design and installation of subsea facilities for the offshore oil and gas industry.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 27, 2000
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