McDermott awarded subsea contract in Brazil McDermott International announced that one of its subsidiaries has entered into an agreement with Petrobras for the supply of its subsea Lay Vessel North Ocean 105. This contract is included in McDermott’s first quarter 2014 backlog. The LV105 will carry out deepwater umbilical and flexible pipe installation in the pre-salt region and Campos Basin area offshore Brazil. Expected to commence during the third quarter of 2014, the term of the charter is approximately 200 days, with an option to extend.
McDermott and GE launch io oil & gas consulting McDermott (MDR) and GE Oil & Gas (GE) launched io oil & gas consulting, a new independent venture to transform front-end offshore field development. io will consider the full field as one system and have the technical insight to develop every aspect of the front-end solution. McDermott’s investment in io aligns with the company’s strategy to become more client-focused and responsive to operators’ challenges.