McDermott International, Inc. announced it has been awarded a sizeable* contract from a Middle East customer to carry out front-end engineering and design (FEED) work for offshore riser platform topsides.
The scope includes the design of two offshore riser platforms, as well as associated brownfield integration modifications to existing facilities, which include the decommissioning of existing assets. The FEED contract will be fully executed from McDermott’s Middle East offices. Work on the project will begin immediately, and the contract award will be reflected in McDermott’s second-quarter 2020 backlog.
* – McDermott defines a sizeable contract as between USD $1 million and USD $50 million .
Forward-Looking Statements
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 backlog, to the extent that backlog may be viewed as an indicator of future revenues or profitability, and 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.
Source: McDermott
Add a Comment