McDermott awarded subsea contract in Brazil

A McDermott International Inc. subsidiary has entered into an agreement with Petrobras to the supply the subsea lay vessel North Ocean 105.

Mar 20th, 2014

Offshore staff

HOUSTON –A McDermott International Inc. (NYSE:MDR) subsidiary has entered into an agreement with Petrobras to the supply the subsea lay vessel North Ocean 105 (LV105).

TheLV105 will carry out deepwater umbilical and flexible pipe installation in the presalt region and Campos basin area offshore Brazil. With work beginning 3Q 2014, the term of the charter is approximately 200 days, with an option to extend.

The charter supports McDermott’s vessel utilization targets, as during the second half of 2014, the company will have three deepwater vessels on charter to Petrobras.

03/20/2014

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