McDermott International Inc. (NYSE:MDR) has been awarded a large contract by an upstream oil and gas operator for a project offshore in the Middle East, the company said in a news release.
Work will include engineering, procurement, fabrication, transportation and installation of offshore pipelines. McDermott said engineering and offshore mobilization of its in-house vessels has begun for this fast-track assignment. Project completion is expected by year-end.
The contract award will be reflected in McDermott’s first-quarter 2016 backlog, according to the release.
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