Houston: Houston-based, New York listed McDermott International has landed a big lump-sum contract from LLOG to support the latter’s development of the Otis offshore oilfield in the Gulf of Mexico, it was announced on Tuesday.
Neither party revealed the size of the contract.
McDermott is primarily tasked with the engineering, fabrication and installation of a 75,000-foot insulated rigid flow line and insulated steel catenaries riser (SCR) with associated pipeline end termination (PLET) and jumper.
Offshore installation is scheduled to be completed in early 2016 by McDermott deepwater rigid reel Lay Vessel 105 (LV 105).
The Otis field is in Block Mississippi Canyon 79, and will be developed as a subsea tieback to the Delta House floating production system (FPS). It lies in about 3,800 feet of water.
McDermott’s Houston office will perform the overall project management and engineering. The flowline and SCR are scheduled to be assembled and fabricated at the company’s new spoolbase facility in Gulfport, Mississippi.
McDermott International’s share price was boosted after the contract was announced, posting 3.3% gains to reach $5.66 on Tuesday.
