J. Ray McDermott Awarded Pipeline Contract In Russia

Houston, TX - McDermott International, Inc. announced recently that a subsidiary of J. Ray McDermott, S.A. ("J. Ray") was recently awarded a sub-sea pipeline installation project by Lukoil-Nizhnevolzhskneft, LLC (Lukoil), a subsidiary of OJSC LUKOIL Oil Company, for the Yuri Korchagin field which is located 180 kilometers outside Astrakhan city in the Russian sector of the Caspian Sea.

"For more than 20 years J. Ray has undertaken a number of projects in the Caspian Sea and in Russian waters," said Bob Deason, President and Chief Operating Officer of J. Ray. "The volume of construction work in Russia's oil and gas sector is gathering pace and we are proud to be working with Lukoil on this world-class project."

J. Ray will install a 58 kilometer 12" oil pipeline which will connect the ice-resistant fixed platform No.1 (LSP-1) to a single point mooring south of the Yuri Korchagin field. Under the contract J. Ray will also provide design engineering, procurement, installation and testing of the sub-sea pipeline, with project support from J. Ray's facilities in Azerbaijan and the United Arab Emirates. Additional information on McDermott can be obtained at www.mcdermott.com.

SOURCE: McDermott International, Inc.