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Stock Market & Financial Investment News

News Breaks
January 14, 2013
08:02 EDTMDRMcDermott awarded EPCI, commissioning of PEMEX production platform
McDermott International announced that one of its subsidiaries has received a letter of award for a turnkey contract for the PB-Litoral-A production platform for PEMEX Exploracion y Produccion in the Litoral Tabasco Tsimin-Xux fields. The value is approximately $230M and will be included in McDermott's fourth quarter 2012 backlog. Engineering work is expected to begin in early 2013 by McDermott’s Houston and Chennai engineering offices, with fabrication at Altamira, Mexico, where at peak, more than 550 craft personnel are expected to be engaged on the project. Full project completion is expected during the second quarter of 2015.
News For MDR From The Last 14 Days
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February 25, 2015
05:20 EDTMDRMcDermott and Petrofac form five-year strategic alliance
McDermott and Petrofac Limited announced they have formed a strategic marketing alliance to pursue top-tier deepwater subsea, umbilical, riser and flowline, or SURF, projects. The five-year alliance expects to provide oil and gas companies a competitive, integrated solution across a broad range of complex engineer, procure, construct, install Subsea projects in deep and ultra-deepwater across the US Gulf of Mexico, Mexico, Brazil, the North Sea, Mediterranean and West Africa. SURF projects are expected to be above $200M, with the project scope anticipated to be split between partners roughly equally, but according to the specifics of a particular opportunity, and governed by separate project agreements.

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