McDermott International, Inc. A leader in offshore engineering g g and construction Rigid reel pipelay on Siakap Industry pioneer since 1923 First rigid reel lay of pipe- Setting records in 2014 in-pipe in Asia Pacific…
Turnkey solutions for oil & gas production d ti iinfrastructure f t t Floating Fixed Production Platform Heavy Offshore System Subsea Lift Lift S-Lay Reel Lay / J-Lay S b Subsea Offshore Fixed p platforms,,…
McDermottss turnaround is on track McDermott BUILDING CHANGING IMPROVING PROFITABLE CULTURE EXECUTION BACKLOG Barclays 2014 Energy Conference 5
CHANGING CULTURE Barclays 2014 Energy Conference 6
CHANGING CULTURE Customer-focused organization Organizational g changes g drive customer-focused actions MANAGEMENT REORGANIZED NEW TEAM CHANGES STRUCTURE HIRES COMMERCIAL DISPUTE CASH MINDSET RESOLUTION FOCUS Barclays 2014…
CHANGING CULTURE Team approach to execution Projects j have the support pp of several organizations g REGION PRODUCT LINES PROJECT TEAM PROJECT GLOBAL SSU NC ASSURANCE RESOURCES Barclays 2014 Energy Conference 8
IMPROVING EXECUTION Barclays 2014 Energy Conference 9
IMPROVING EXECUTION Reduction in loss contracts Quarterlyy net gain/(loss) Q g ( ) on contracts in loss p position* ns) (in million 4 Contracts in backlog 9 Contracts in backlog * Quarterly gross profit impact of…
IMPROVING EXECUTION Chevron Jack St. St Malo: completed Ultra deepwater p subsea p project j a success 21 Fabrication of high-spec Flowline, subsea components with manifold and pump installation in water jumpers 2,200m deep using…
IMPROVING EXECUTION Inpex Ichthys: execution on track Riser support pp structure fabrication nearlyy complete p Riser support structure Arch Assembly Load out for Heerema McDermott Q4 2015+ 2014 installation installation…
BUILDING PROFITABLE BACKLOG Barclays 2014 Energy Conference 13
BUILDING PROFITABLE BACKLOG Diverse set of opportunities Opportunities in every region 4 1 Bn 4.1 B Asia Pacific BACKLOG Middle East Americas 8.4 Bn BIDS North Sea / Africa OUTSTANDING Balanced among 9 8 Bn 9.8…
Conversion of bids into backlog th through hMMcDermott D tt strengths t th Large g EPCI project delivery I country In t value l F b i ti capabilities Fabrication biliti Offshore and subsea synergies Leading Offshore…
McDermottss turnaround is on track McDermott BUILDING CHANGING IMPROVING PROFITABLE CULTURE EXECUTION BACKLOG Barclays 2014 Energy Conference 16