McDermott International, Inc. announced that it has been awarded a sizeable contract to transport and install subsea umbilicals, manifolds, jumpers and flying leads for Chevron U.S.A. Inc. (“Chevron”) to support the brownfield expansion of the Jack and St. Malo fields in the U.S. Gulf of Mexico. The value of the award is included in McDermott’s first quarter 2015 backlog.

“This will be the second subsea project in the Jack and St. Malo fields that McDermott has carried out for Chevron, which demonstrates confidence in our ability to install subsea facilities in such challenging deepwater environments,” said Scott Munro, Vice President, Americas, Europe & Africa. “McDermott successfully installed some of the industry’s largest and most complex umbilical end terminations in 7,200 feet of water, as part of the fields’ original development last year.”

McDermott’s subsea construction vessel, North Ocean 102, is expected to transport and install 30 miles of umbilicals and associated flying leads. The final jumper assembly is scheduled to be completed at McDermott’s Gulfport Spoolbase in Mississippi prior to installation by McDermott’s Derrick Barge 50 utilizing its deepwater lowering system.

The installation campaign is expected to commence in the second quarter of 2016.

The Jack and St. Malo fields are located within 25 miles of each other in the Walker Ridge area of the U.S. Gulf of Mexico, approximately 280 miles south of New Orleans, Louisiana. First oil and natural gas production was achieved in December 2014.

About THE VESSELS

North Ocean 102 (“NO102”)

The NO102 is a fast-transit, dynamically positioned vessel with a 330-ST vertical lay system for installing flexible subsea product across a variety of water depths. For more information, download the data sheet at http://www.mcdermott.com/News/Publications/NO102-imperial.pdf.

Derrick Barge 50 (“DB50”)

The DB50 is a dynamically positioned (DP2), heavy-lift vessel capable of lifting surface loads up to 4,400 ST and lowering up to 480 ST to 11,500 feet. For more information, download the data sheet at http://www.mcdermott.com/News/Publications/DB50-imperial.pdf.

About McDERMOTT

McDermott (NYSE:MDR) 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 clients include national and major energy companies. Operating in more than 20 countries across the world, our locally focused and globally integrated resources include approximately 13,400 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 and is listed on the New York Stock Exchange. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates.