GoM subsea tieback contract

HOUSTON - McDermott International Inc. announced March 1 it had been awarded a contract from Hess Corporation for subsea tieback work for its deep-water Penn State Deep (PSD) field in the Gulf of Mexico. The PSD field is located in the Garden Banks 216 block in about 1,500 feet of water. Discovered in 1996, the PSD field began production in 1999. The lump sum contract will be reflected in McDermott’s first quarter 2017 backlog, according to a media release. (Source: McDermott 03/01/17) Gulf Coast Note: McDermott 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. It operates in about 20 countries. U.S. sites include a headquarters in Houston and a field office in Gulfport, Miss. Hess Corp. has a regional HQ in Houston.