McDermott Named EPC Contractor of the Year by the Federation of Indian Petroleum Industry

HOUSTON, Dec. 1, 2021 /PRNewswire/ -- McDermott International was named Engineering, Procurement and Construction (EPC) Contractor of the Year by the Federation of Indian Petroleum Industry (FIPI) at a ceremony in Delhi, India, on Nov. 26, 2021. This is the second time FIPI has recognized McDermott as EPC Contractor of the Year in India.

"This award further substantiates McDermott's leadership in the subsea and ultra-deepwater fields," said Mahesh Swaminathan, Senior Vice President, Asia Pacific, Subsea & Deepwater. "Our customers know they can rely on McDermott's integrated execution expertise as we continue to deliver industry-leading solutions for some of the most complex subsea projects in the world."

The award was presented by Shri Hardeep S Puri, India's Minister of Petroleum and Natural Gas, Housing and Urban Affairs and recognized McDermott's subsea achievements on Reliance Industries KG-D6 R Cluster Development project. The project included many firsts, including the deepest pipelay in India at 6,069 feet (1,850 meters), the first piggy-back pipelay by McDermott's Derrick Lay Vessel 2000 (DLV 2000), the installation of the longest dual riser in Indian waters and the deepest and largest manifold installation by the DLV 2000. The pipeline installation is also one of the deepest in Asia to date.

McDermott's stringent management of health, safety and environmental (HSE) matters and a focus on business continuity, were also recognized for risk mitigation of two cyclones, monsoon seasons and COVID-19.

"McDermott will continue to be a leader in the subsea and ultra-deepwater space due to our continuous commitment to innovation, excellence, digitization and integrated project delivery," Swaminathan said.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about backlog, to the extent backlog may be viewed as an indicator of future revenues or profitability, and about the expected scope and value 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 or capital 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; actions by lenders, other creditors, customers and other business counterparties of McDermott 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. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott's management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

Contacts:

Global Media Relations
Reba Reid
Senior Director, Global Communications and Marketing
+1 281 588 5636                                                                
[email protected]

APAC Media Relations
Miki O'Farrell
Manager, Marketing APAC
+61 417 145 256

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