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McDermott Announces Date of Naming Ceremony for DLV 2000

  • Flagship vessel for McDermott’s global offshore pipelay and construction fleet
  • Highly versatile vessel, configured to meet a wide variety of market demands worldwide
  • Significantly enhances global fleet capabilities, providing entry to new market opportunities

HOUSTON, Feb. 18, 2016 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) today announced it will conduct the naming ceremony for its new flagship derrick lay vessel, the DLV 2000, at Keppel’s Singmarine Shipyard in Singapore on Thursday, April 14, 2016.

McDermott’s new flagship, the DLV 2000, moves away from its berth at the Keppel Singmarine Shipyard in Singapore on Tuesday, February 16, 2016. ©2016 McDermott, International. All Rights Reserved.


A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/74808ee0-f9ec-4d09-8447-04de0ae438eb

The DLV 2000 is a class 3 dynamically positioned vessel combining a 2,200-ton revolving crane with a deepwater S-lay pipelay system configured to install pipelines with diameters ranging from 4.5 to 60 inches in water depths up to 10,000 ft. The vessel can accommodate up to 400 personnel to facilitate large hook-up and commissioning projects and incorporates a large, 43,000 sq. ft. open deck to allow the transportation and assembly of large subsea structures; enabling safe and efficient stand-alone operations in remote areas.

The vessel has also been designed and constructed to accommodate a deepwater, 500-ton flexlay system that can be installed, at a future date, in response to specific market needs.

With a maximum transit speed of 13.5 knots, the DLV 2000 will be deployed as a global asset within the McDermott fleet.

“Fast, powerful and versatile, the DLV 2000 gives McDermott the capabilities to undertake projects that will expand our portfolio of target markets,” said David Dickson, McDermott’s President and CEO. “As the new flagship of our fleet, this will allow McDermott to utilize one vessel on projects requiring a combination of pipelay, heavy lift and offshore workforce accommodation that would normally have to be executed by multiple vessels. We also expect the DLV 2000 to provide McDermott with a key asset for field development in remote locations through the combination of these versatile construction capabilities and fast transit speed.”

About McDermott
McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex Offshore and Subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our clients include national and major energy companies. Operating in more than 20 countries across the world, our locally focused and globally integrated resources include approximately 10,300 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923 and is listed on the New York Stock Exchange. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, please visit our website at www.mcdermott.com.

Forward-looking statement
In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this press release which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott's actual results of operations. These forward-looking statements include, among other things, the expected timing of delivery and specifications associated with the DLV 2000, as well as the expected ability to win work and opportunities available to the vessel. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and business partners, difficulties executing on the project and changes in contracting terms and industry norms. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see McDermott's annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2014 and subsequent quarterly reports on Form 10-Q. This press release reflects management's views as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

McDermott International, Inc. Investor Relations Kathy Murray V.P., Treasurer and Investor Relations +1.281.870.5147 kamurray@mcdermott.com Media Relations Richard Goins Director, Global Communications +1.281.870.5932 rgoins@mcdermott.com Area Communications Juliana Tan Asia Area Communications (65) 6668.5428 yjtan@mcdermott.com

Source:McDermott, Inc.