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News Article | March 1, 2017
Site: globenewswire.com

HOUSTON, March 01, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today a contract award from Hess Corporation for subsea tieback work for its deepwater Penn State Deep (PSD) field in the Gulf of Mexico. “This marks our first project with Hess Corporation in recent history and we look forward to providing industry best operational excellence, quality and safety,” said Scott Munro, McDermott’s Vice President for Americas, Europe and Africa. “Once again, we have demonstrated that we can provide the best total solution for our clients.  We look forward to a long and mutually beneficial relationship with Hess.” The PSD field is located in the Garden Banks 216 block in approximately 1,500 feet of water. Discovered in 1996, the PSD field began production in 1999. The lump sum contract will be reflected in McDermott’s first quarter 2017 backlog. 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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 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.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, 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, statements about backlog, to the extent backlog may be viewed as an indicator of future revenues, and the expected scope, execution and timing associated with the project discussed in this press release. 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: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings.  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, 2015 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.


News Article | March 1, 2017
Site: globenewswire.com

HOUSTON, March 01, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today a contract award from Hess Corporation for subsea tieback work for its deepwater Penn State Deep (PSD) field in the Gulf of Mexico. “This marks our first project with Hess Corporation in recent history and we look forward to providing industry best operational excellence, quality and safety,” said Scott Munro, McDermott’s Vice President for Americas, Europe and Africa. “Once again, we have demonstrated that we can provide the best total solution for our clients.  We look forward to a long and mutually beneficial relationship with Hess.” The PSD field is located in the Garden Banks 216 block in approximately 1,500 feet of water. Discovered in 1996, the PSD field began production in 1999. The lump sum contract will be reflected in McDermott’s first quarter 2017 backlog. 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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 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.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, 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, statements about backlog, to the extent backlog may be viewed as an indicator of future revenues, and the expected scope, execution and timing associated with the project discussed in this press release. 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: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings.  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, 2015 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.


News Article | March 1, 2017
Site: globenewswire.com

HOUSTON, March 01, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today a contract award from Hess Corporation for subsea tieback work for its deepwater Penn State Deep (PSD) field in the Gulf of Mexico. “This marks our first project with Hess Corporation in recent history and we look forward to providing industry best operational excellence, quality and safety,” said Scott Munro, McDermott’s Vice President for Americas, Europe and Africa. “Once again, we have demonstrated that we can provide the best total solution for our clients.  We look forward to a long and mutually beneficial relationship with Hess.” The PSD field is located in the Garden Banks 216 block in approximately 1,500 feet of water. Discovered in 1996, the PSD field began production in 1999. The lump sum contract will be reflected in McDermott’s first quarter 2017 backlog. 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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 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.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, 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, statements about backlog, to the extent backlog may be viewed as an indicator of future revenues, and the expected scope, execution and timing associated with the project discussed in this press release. 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: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings.  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, 2015 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.


DUBAI, Feb. 27, 2017 (GLOBE NEWSWIRE) -- Leading EPCI contractor McDermott International, Inc. (NYSE:MDR), today announced it reached 50 million man-hours without a lost time incident in its Middle East Area. “Everyone at McDermott had a part to play in reaching the 50 million man-hour milestone; it was achieved through mutual regard for each other and dedicated teamwork,” said Linh Austin, McDermott’s Vice President, Middle East and Caspian. “Safety isn’t just a procedure for us, it’s a culture deep-rooted within every function and division of our business. It is our number one priority.” The industry-leading safety milestone, which was reached on January 27th 2017, was achieved in part through the company-wide adoption of McDermott’s Taking the Lead program and implementation of McDermott Operational Values (“MOVs”).  These programs seek to embed excellence in safety performance and a “safety-first” attitude and behaviors into the company culture.  The MOVs were created to identify key procedures and processes needed for safety success. The achievement dates back to October 22, 2013 and since then McDermott has fabricated and installed 38 topsides and 47 jackets with a combined weight of 89,978 tons (81,537 tonnes) – the equivalent in mass to about eight Eiffel Towers or nearly twice the weight of steel rebar used in building the Burj Khalifa. In addition, McDermott installed a total of 135 miles (217 kilometers) of pipelines and 194 miles (313 kilometers) of cables. As a company, McDermott recently reached one year without a lost time incident, which includes the Company’s four global fabrication facilities, two spool bases, 12 McDermott-owned/operated offshore vessels and offices around the world. 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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 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.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, visit our website at www.mcdermott.com.


DUBAI, Feb. 27, 2017 (GLOBE NEWSWIRE) -- Leading EPCI contractor McDermott International, Inc. (NYSE:MDR), today announced it reached 50 million man-hours without a lost time incident in its Middle East Area. “Everyone at McDermott had a part to play in reaching the 50 million man-hour milestone; it was achieved through mutual regard for each other and dedicated teamwork,” said Linh Austin, McDermott’s Vice President, Middle East and Caspian. “Safety isn’t just a procedure for us, it’s a culture deep-rooted within every function and division of our business. It is our number one priority.” The industry-leading safety milestone, which was reached on January 27th 2017, was achieved in part through the company-wide adoption of McDermott’s Taking the Lead program and implementation of McDermott Operational Values (“MOVs”).  These programs seek to embed excellence in safety performance and a “safety-first” attitude and behaviors into the company culture.  The MOVs were created to identify key procedures and processes needed for safety success. The achievement dates back to October 22, 2013 and since then McDermott has fabricated and installed 38 topsides and 47 jackets with a combined weight of 89,978 tons (81,537 tonnes) – the equivalent in mass to about eight Eiffel Towers or nearly twice the weight of steel rebar used in building the Burj Khalifa. In addition, McDermott installed a total of 135 miles (217 kilometers) of pipelines and 194 miles (313 kilometers) of cables. As a company, McDermott recently reached one year without a lost time incident, which includes the Company’s four global fabrication facilities, two spool bases, 12 McDermott-owned/operated offshore vessels and offices around the world. 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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 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.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, visit our website at www.mcdermott.com.


DUBAI, Feb. 27, 2017 (GLOBE NEWSWIRE) -- Leading EPCI contractor McDermott International, Inc. (NYSE:MDR), today announced it reached 50 million man-hours without a lost time incident in its Middle East Area. “Everyone at McDermott had a part to play in reaching the 50 million man-hour milestone; it was achieved through mutual regard for each other and dedicated teamwork,” said Linh Austin, McDermott’s Vice President, Middle East and Caspian. “Safety isn’t just a procedure for us, it’s a culture deep-rooted within every function and division of our business. It is our number one priority.” The industry-leading safety milestone, which was reached on January 27th 2017, was achieved in part through the company-wide adoption of McDermott’s Taking the Lead program and implementation of McDermott Operational Values (“MOVs”).  These programs seek to embed excellence in safety performance and a “safety-first” attitude and behaviors into the company culture.  The MOVs were created to identify key procedures and processes needed for safety success. The achievement dates back to October 22, 2013 and since then McDermott has fabricated and installed 38 topsides and 47 jackets with a combined weight of 89,978 tons (81,537 tonnes) – the equivalent in mass to about eight Eiffel Towers or nearly twice the weight of steel rebar used in building the Burj Khalifa. In addition, McDermott installed a total of 135 miles (217 kilometers) of pipelines and 194 miles (313 kilometers) of cables. As a company, McDermott recently reached one year without a lost time incident, which includes the Company’s four global fabrication facilities, two spool bases, 12 McDermott-owned/operated offshore vessels and offices around the world. 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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 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.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, visit our website at www.mcdermott.com.


HOUSTON, Feb. 22, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today that Scott Munro, Vice President, Americas, Europe & Africa, will speak at the DNB Annual Oil, Offshore & Shipping Conference in Oslo, Norway on March 1, 2017 at 3:25 p.m. Central European Time/8:25 a.m. Central Time. McDermott will post the slides to be used prior to the presentation in the Investor Relations area at www.mcdermott.com. 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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 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.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, visit our website at www.mcdermott.com.


News Article | February 21, 2017
Site: globenewswire.com

HOUSTON, Feb. 21, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today it has acquired the newly built pipelay and construction vessel Amazon to better position the Company for ultradeepwater and SURF projects. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a4d679f2-029c-4f98-be24-f63e722974c8. “This is a great opportunity for the Company to expand the technical capabilities of our global fleet and grow in the deepwater and SURF markets and greatly increase our ultradeepwater project coverage,” said David Dickson, President and Chief Executive Officer of McDermott. “Due to current market conditions and the opportunistic nature of the transaction, we were able to acquire what is essentially a new, enabling asset at a fraction of the original build cost.” McDermott plans to upgrade the vessel to address the ultradeepwater market with a state-of-the-art J-lay system outfitted with the latest vessel technology. In the near term, the Company plans to make minor capital expenditure investments to bring the vessel up to Company standards. As McDermott finalizes its upgrade plans, the Company plans to use the vessel on existing construction and pipelay projects. Funding for the vessel acquisition has been secured through a sale and leaseback arrangement under which McDermott has control of the vessel in exchange for a daily charter-hire rate. The planned upgrade to the state-of-the-art J-lay system and related financing are expected to be considered in line with market conditions. Completed in 2014, the Amazon is equipped with 49,514 square feet (4,600 square meters) of deck space complete with two 440-ton (400-tonne) cranes, a service speed of 12 knots and accommodation for up to 200 crew and service staff. For more information about the vessel acquisition, visit McDermott’s Investor Relations web page. 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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 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.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, 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, our beliefs and expectations with respect to the benefits and opportunities for McDermott resulting from the Amazon, McDermott’s plans with respect to vessel fleet strategy and market position, the expected plans, timing and utilization of the Amazon, as well as the expected scope, timing and sources of funding of potential upgrades to the Amazon. 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: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings.  If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements.  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, 2016. 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.


News Article | February 21, 2017
Site: globenewswire.com

HOUSTON, Feb. 21, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today it has acquired the newly built pipelay and construction vessel Amazon to better position the Company for ultradeepwater and SURF projects. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a4d679f2-029c-4f98-be24-f63e722974c8. “This is a great opportunity for the Company to expand the technical capabilities of our global fleet and grow in the deepwater and SURF markets and greatly increase our ultradeepwater project coverage,” said David Dickson, President and Chief Executive Officer of McDermott. “Due to current market conditions and the opportunistic nature of the transaction, we were able to acquire what is essentially a new, enabling asset at a fraction of the original build cost.” McDermott plans to upgrade the vessel to address the ultradeepwater market with a state-of-the-art J-lay system outfitted with the latest vessel technology. In the near term, the Company plans to make minor capital expenditure investments to bring the vessel up to Company standards. As McDermott finalizes its upgrade plans, the Company plans to use the vessel on existing construction and pipelay projects. Funding for the vessel acquisition has been secured through a sale and leaseback arrangement under which McDermott has control of the vessel in exchange for a daily charter-hire rate. The planned upgrade to the state-of-the-art J-lay system and related financing are expected to be considered in line with market conditions. Completed in 2014, the Amazon is equipped with 49,514 square feet (4,600 square meters) of deck space complete with two 440-ton (400-tonne) cranes, a service speed of 12 knots and accommodation for up to 200 crew and service staff. For more information about the vessel acquisition, visit McDermott’s Investor Relations web page. 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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 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.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, 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, our beliefs and expectations with respect to the benefits and opportunities for McDermott resulting from the Amazon, McDermott’s plans with respect to vessel fleet strategy and market position, the expected plans, timing and utilization of the Amazon, as well as the expected scope, timing and sources of funding of potential upgrades to the Amazon. 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: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings.  If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements.  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, 2016. 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.


HOUSTON, Feb. 22, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today that Scott Munro, Vice President, Americas, Europe & Africa, will speak at the DNB Annual Oil, Offshore & Shipping Conference in Oslo, Norway on March 1, 2017 at 3:25 p.m. Central European Time/8:25 a.m. Central Time. McDermott will post the slides to be used prior to the presentation in the Investor Relations area at www.mcdermott.com. 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 customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 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.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, visit our website at www.mcdermott.com.

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