J. Ray gets Pemex installation contract

February 3, 2009


MEXICO CITY: McDermott International subsidiary J. Ray McDermott has been awarded a contract by Mexican state oil company Pemex Exploración y Producción for the transportation and installation of the Ixtal-B and Maloob-C drilling platforms. These projects are in the Bay Of Campeche in 216 feet (65.8 m) and 272 feet (82.9 m) of water, respectively.

The contract is expected to have a value of over US$40 million.

The Ixtal-B platform consists of a 1,984-ton four-leg jacket with 2,205 tons of piles and a 2,205-ton topside. The Maloob-C platform consists of a 3,527-ton, eight-leg jacket, 2,535-ton topside, 3,307 tons of piles and 2,646 tons of 30-inch conductors. The Ixtal-B jacket will be a lift and set installation, while the Maloob-C jacket will be launched conventionally.

J. Ray will mobilize its derrick/J-lay barge DB50 from the U.S. Gulf of Mexico in the second quarter of 2009 to perform the installation of the two platforms. The project is expected to be completed before the third quarter of 2009.

“This is the first installation contract Pemex has awarded directly to J. Ray and follows our contract for the Maloob-C platform construction awarded in December 2007,” said J. Ray Executive Vice President and Chief Operating Officer John Nesser.

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