McDermott signs agreement for North Sea spoolbase McDermott announced that one of its subsidiaries has signed an option agreement with PD Ports which gives it the exclusive right to operate a spoolbase to serve projects in the North Sea. McDermott expects to have the facility available for projects in early FY15. Located in Hartlepool, in northeast U.K., the spoolbase is expected to support McDermott’s re-entry into the North Sea Reel-Lay market.
McDermott awarded Chevron subsea installation contract McDermott International (MDR) announced that it has been awarded a sizeable contract to transport and install subsea umbilicals, manifolds, jumpers and flying leads for Chevron (CVX) to support the brownfield expansion of the Jack and St. Malo fields in the U.S. Gulf of Mexico. The value of the award is included in McDermott’s first quarter backlog. McDermott’s subsea construction vessel, North Ocean 102, is expected to transport and install 30 miles of umbilicals and associated flying leads. The final jumper assembly is scheduled to be completed at McDermott’s Gulfport Spoolbase in Mississippi prior to installation by McDermott’s Derrick Barge 50 utilizing its deepwater lowering system. The installation campaign is expected to commence in the second quarter.