J Ray wins installation work at Te Giac Trang offshore Vietnam

Source: McDermott International

McDermott International, Inc. (MDR) announced today that a subsidiary of J. Ray McDermott, S.A. has been awarded a transportation and installation contract by PTSC Mechanical & Construction Company Limited (PTSC) for the Te Giac Trang field development project, offshore Vietnam. The value of this project will be included in McDermott's first quarter 2010 backlog. 

The scope of work includes transportation and installation of two wellhead platform jackets, topsides (including two drill decks, a main deck and helideck/electrical house), infield pipelines (including tie-spools and a pin-piled pipeline end manifold), and a subsea isolation valve. Work is expected to start in the third quarter of 2010. 

"This is the second contract that J. Ray has won in Vietnam this year," said Steve Johnson, President and Chief Executive Officer of J. Ray. 

The Te Giac Trang oil field is located in the northern part of Block 16-1 offshore Vietnam, around 100 kilometers southeast of Vung Tau City, in a water depth of approximately 45 meters, and is operated by Hoang Long Joint Operating Co.

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