McDERMOTT AND OCEAN INSTALLER JOIN FORCES FOR NORTH SEA RIGID PIPELAY PROJECTS

Norwegian subsea entrepreneur Ocean Installer and leading offshore engineering and construction company McDermott have established an exclusive alliance to jointly meet customers’ increasing rigid pipelay needs in the North Sea subsea market. 

The alliance marks McDermott’s re-entry into the North Sea and establishes Ocean Installer as a tier one North Sea contractor by adding rigid pipelay to the company’s capabilities.

- We are very pleased that McDermott has chosen Ocean Installer as its partner for the development of rigid pipelay solutions in the North Sea and we look forward to advancing our capabilities further together. Not only is this arrangement beneficial to our two companies, it brings about increased supply and dynamic competition, showing how companies can work together to address growing needs in the market, says Steinar Riise, Chief Executive Officer of Ocean Installer. 

- With our expanding portfolio of deepwater subsea projects primarily in Asia Pacific and the Gulf of Mexico, we look forward to working together with the experts at Ocean Installer to pursue subsea installation projects that support the continued development of the North Sea and further expansion of Norway’s offshore energy reserves, says Stephen M. Johnson, Chairman, President and Chief Executive Officer of McDermott.

-This is another step towards McDermott becoming a tier one turnkey subsea engineering, procurement, construction and installation provider, Johnson continues.

McDermott continues to expand its subsea resources including a growing fleet of rigid-pipelay vessels such as the highly advanced Lay Vessel North Ocean 105, its sister ship Lay Vessel 108 (expected to be available mid-2014), and recently announced new-build deepwater combination S-Lay vessel with a 2000-ton crane DLV 2000, (expected to be available in 2015).

The North Sea SURF (subsea, umbilical, riser, flowline) market is expanding rapidly and there is a clear need for additional capacity. McDermott and Ocean Installer are expected to address this by combining the highly specialised expertise of Ocean Installer’s North Sea organisation with the worldwide resources and experience of McDermott. The alliance implies a significant capacity increase in the region and is expected to make a notable impact on the regional subsea market.

The agreement commits the parties to exclusively pursue and jointly execute rigid pipelay projects in the North Sea and also serves as a framework for a more permanent relationship between the two companies.

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For further inquiries, please contact:

Steinar Riise, Chief Executive Officer, Ocean Installer

Mobile: + 47 975 35 850

Email: Steinar.riise@oceaninstaller.com

About Ocean Installer

Ocean Installer is a Norwegian subsea entrepreneur headquartered in Stavanger, Norway. Ocean Installer holds strong EPCI expertise within the SURF (Subsea, Umbilicals, Risers, Flowlines) segment and is rapidly expanding its operations and organisation within and beyond the North Sea basin.

Ocean Installer provides its clients with recognised first-rate assets and has secured long-term charters on two construction support vessels (CSV): Normand Clipper and Normand Mermaid. A third CSV, in which Ocean Installer has ownership, is under construction and is to be delivered in Q2 2014. Ocean Installer will continuously invest and develop its assets to fulfill its ambition to be a key service provider within the SURF segment.

Ocean Installer is majority-owned by HitecVision, a leading investor in the oil and gas industry.

Ocean Installer holds FPAL- and Achilles certifications, with systems established in accordance with the requirements set out in ISO 9001, 14001, 18001 and 31 000 standards.

For further information, please visit: www.oceaninstaller.com

About McDermott

McDermott is a leading engineering, procurement, construction and installation group of companies focused on executing complex offshore oil and gas projects worldwide.  Providing fully integrated EPCI services for upstream field developments, the Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning.  McDermott’s customers include national and major energy companies. Operating in more than 20 countries across the Atlantic, Middle East and Asia Pacific, its integrated resources include approximately 13,500 employees and a diversified fleet of marine vessels, fabrication facilities and engineering offices. McDermott has served the energy industry since 1923.

To learn more, please visit McDermott’s website on the internet at www.mcdermott.com

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