KEYBANC Engineering & Construction Conference December 9, 2014
McDermott International, Inc. A leader in offshore engineering 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 3
Turnkey solutions for oil & gas production infrastructure Floating Fixed Production Platform Heavy Offshore System Subsea Lift Lift S-Lay Reel Lay / J-Lay Subsea Offshore Fixed platforms, floating production systems…
In-country value, global execution 14,000 employees in 20 countries Note: Employee and country count are approximate. 5
Integrated EPCI Model Engineering Procurement Construction Installation Project and Risk Management Studies & conceptual Negotiating, Topsides & onshore Single & dual heavy- designs purchasing, modules lift Capabilities /…
Key Fabrication Yards Altamira, Mexico Batam Island, Indonesia Jebel Ali, Dubai Area: 119 acres, 198 potential Area: 272 acres Area: 154 acres Locations Served Locations Served Locations Served U.S. Gulf of Mexico Australia…
Specialized Marine Fleet Rigid Reel Lay Flex Lay Heavy Lift/Pipelay (S-Lay/J-Lay) LV105 NO102 DLV2000 (2015 delivery DB50 expected) Agile Construction Support Vessels DB32 DB27 CSV108 Emerald Sea DB101 DB30 Thebaud…
McDermotts turnaround is on track CHANGING IMPROVING BUILDING CULTURE EXECUTION PROFITABLE BACKLOG 9
CHANGING CULTURE Team approach to execution Projects have the support of several organizations REGION PRODUCT LINES PROJECT TEAM PROJECT GLOBAL ASSURANCE RESOURCES 12
IMPROVING EXECUTION 13
IMPROVING EXECUTION Reduction in loss contracts Quarterly net gain/(loss) on contracts in loss position* (in millions) 4 Contracts in backlog 9 Contracts in backlog * Quarterly gross profit impact of projects that were…
IMPROVING EXECUTION Chevron Jack St. Malo: completed Ultra deepwater subsea project a success 21 Fabrication of high-spec Flowline, subsea components with manifold and pump installation in water jumpers 7,000 ft deep using DB50…
IMPROVING EXECUTION Inpex Ichthys: execution on track Riser support structure installed Heerema installation McDermott Q4 2015+ 2014 commenced installation scope *Note: Timing referenced for McDermott installation scope is as…
BUILDING PROFITABLE BACKLOG 17
BECOMING MORE FLEXIBLE Backlog provides 2015 visibility 2.8 billion of existing backlog expected to be recognized in 2015 Existing Backlog (in billions) YTD Revenue As of September 30, 2014 18
BUILDING PROFITABLE BACKLOG Brunei Shell Petroleum Pipelines Multi-year installation contract awarded in Q4 2014 Relationship built with BSP Successful execution of first project in early 2014 Recently awarded second project spanning…
BUILDING PROFITABLE BACKLOG Diverse set of opportunities Opportunities in every region 4.0 Bn Asia Pacific BACKLOG Middle East Americas 10.5 Bn BIDS North Sea / Africa OUTSTANDING Balanced among 12.5 Bn National Oil…
Conversion of bids into backlog through McDermott strengths LARGE IN COUNTRY EPCI PROJECT DELIVERY VALUE COMPLEX FABRICATION CAPABILITIES OFFSHORE & SUBSEA SYNERGIES 21
McDermotts turnaround is on track CHANGING IMPROVING BUILDING CULTURE EXECUTION PROFITABLE BACKLOG 22
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