McDermott International, Inc. announced that it was awarded a sizeable* front-end engineering design (FEED) contract by POSCO INTERNATIONAL Corporation for the Shwe Phase 3 gas field development, located offshore Myanmar.

"This award is a testament to McDermott's excellent FEED and EPCIC project delivery capability on large central production platform facilities. We look forward to continuing to work with POSCO INTERNATIONAL Corporation to meet Myanmar's growing energy demands," said Ian Prescott, Senior Vice President, Asia Pacific.

The Shwe field is approximately 44 miles (70 kilometers) offshore Myanmar. The scope of work includes FEED services for a new compression platform, a bridge link and modifications in existing platform.

Commencing in Q3 2019, the work will be undertaken in McDermott's Center of Engineering Excellence in Kuala Lumpur and is scheduled for completion in the second quarter 2020.

The award will be reflected in McDermott's third quarter 2019 backlog.

* McDermott defines a sizeable contract as between USD $1 million and USD $50 million.

About McDermott

McDermott (NYSE: MDR) is a premier, fully integrated provider of technology, engineering and construction solutions to the energy industry. For more than a century, customers have trusted McDermott to design and build end-to-end infrastructure and technology solutions to transport and transform oil and gas into the products the world needs today. Our proprietary technologies, integrated expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. Customers rely on McDermott to deliver certainty to the most complex projects, from concept to commissioning. It is called the "One McDermott Way." Operating in over 54 countries, McDermott's locally focused and globally-integrated resources include approximately 32,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world.