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Stock Market & Financial Investment News

News Breaks
April 17, 2014
07:05 EDTMDRMcDermott 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.
News For MDR From The Last 14 Days
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November 11, 2014
07:33 EDTMDRMcDermott awarded three-year shallow water pipeline contract by Brunei Shell
McDermott International has been awarded a three-year shallow water pipeline contract by Brunei Shell Petroleum Company Sdn. Bhd. to transport and install pipelines and umbilicals for the Champion and Ampa Fields offshore Brunei. Work is expected to be executed through 2017. The full scope of work will be executed in annual work plans that are expected to be confirmed over the coming years as BSP finalizes its development plans and budgets. The work identified for 2015 will be included in McDermott’s fourth quarter 2014 backlog. The first scope of work consists of transportation and installation of more than 62 miles of pipelines including corrosion resistant alloy clad pipelines, as well as umbilicals and cables. The McDermott Derrick Barge 30 and other vessels will be mobilized to support this initial work which will include hydro testing, pre-commissioning and salvage of redundant risers.

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