McDermott Awarded Fabrication of “Alen” Project for Gas-Condensate Field Development Offshore West Africa

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February 1, 2011

HOUSTON, Feb 01, 2011 (BUSINESS WIRE) — McDermott International, Inc. announced today that one of its subsidiaries was awarded a contract to fabricate a 15,000 ton platform for Noble Energy’s Alen Gas-condensate Development Project (“Alen project”) off the East coast of Bioko Island, Equatorial Guinea.

“This is a significant win for our fabrication facility in Morgan City, Louisiana,” said Stephen M. Johnson, President and Chief Executive Officer, McDermott International, Inc. “McDermott has exported offshore platforms to West Africa since the early 1990’s from its fabrication facilities worldwide. Our strengths in project constructability in the early phase of field development, coupled with our in house engineering and construction experience, an innovative project plan and strong customer relationship, contributed to the successful award of this work.”

McDermott will manage the construction, loadout and installation aids for a 15,000 ton central production platform, including living quarter, and a smaller 2,000-ton wellhead jacket and pile.

The company’s Morgan City fabrication facility will undertake the work, and at peak approximately 500 people are expected to be employed on the project.

Work is expected to commence in the first quarter of 2011.

The Alen project is a gas and condensate development located in Block “O” in approximately 240 feet of water, off the East coast of Bioko Island.

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