Press Release Detail

Company Strengthens Position in Asia's Subsea Market

HOUSTON, Dec. 9, 2025 /PRNewswire/ -- McDermott has secured a subsea contract from PETRONAS Carigali Brunei Ltd. for engineering, procurement, construction, installation and commissioning (EPCIC) of a natural gas development project offshore Brunei Darussalam. This development represents one of the country's most significant conventional gas projects.

The award follows McDermott's successful completion of front-end engineering design (FEED), engineering optimization and readiness planning for the project.

Under the contract scope, McDermott will provide EPCIC services for a subsea production system and associated infrastructure, including umbilicals, risers and flowlines, which will connect six wells to a floating production unit for natural gas recovery. McDermott will also deliver EPCIC services for a gas export pipeline that will supply feedstock to Brunei's liquefied natural gas (LNG) sector.

"Transitioning from FEED to a full EPCIC award underscores McDermott's engineering excellence and proven ability to deliver complex subsea projects across the region," said Mahesh Swaminathan, McDermott's Senior Vice President, Subsea and Floating Facilities. "It also reinforces McDermott's collaborative approach in working with customers to drive engineering value. We look forward to continuing our collaboration with PETRONAS Carigali Brunei and its partners to advance this project safely and efficiently."

Project management will be led from McDermott's engineering center of excellence in Kuala Lumpur, Malaysia, supported by teams across other McDermott offices and project sites.

The gas field is expected to provide a long-term supply of natural gas, supporting Brunei's domestic energy needs and LNG export commitments.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 30 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected scope and value of the project discussed in this press release. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott's management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

Contacts:

Global Media Relations
Reba Reid
+1 281 588 5636 
RReid@McDermott.com

SOURCE McDermott International, Ltd