Press Release Detail

HOUSTON, July 7, 2025 /PRNewswire/ -- McDermott has been awarded a sizeable* offshore transportation and installation contract by BRAVA Energia, the most diversified independent oil and gas company in Brazil, for the Papa-Terra field in the Campos Basin and the Atlanta field in Block BS-4 within the Santos Basin, both offshore Brazil.

Under the contract scope, McDermott will execute the transportation and installation of flexible pipelines, umbilicals and associated subsea equipment for two new wells at the Papa-Terra field and two new wells for the Atlanta Phase 2 development. The scope also includes pre-commissioning and onshore base support services.

"This award highlights the vital role of subsea infrastructure in enabling long-term production and asset value for deepwater developments," said Mahesh Swaminathan, McDermott's Senior Vice President, Subsea and Floating Facilities. "We will leverage our proven integrated delivery model, marine capabilities and expertise in delivering brownfield deepwater solutions to support Brazil and the broader South American offshore market."

Operated by BRAVA Energia, the new wells at the Papa-Terra and Atlanta fields will support production ramp-up as part of the company's ongoing strategy to increase output and extend the life of deepwater infrastructure. McDermott previously delivered the Papa-Terra tension leg wellhead platform – the first dry-tree floating production system offshore Brazil and the first tension leg platform installed in South America at the time.

*McDermott defines a sizeable contract as between USD $1 million and USD $50 million.

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 54 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
Senior Director, Global Communications and Marketing
+1 281 588 5636
RReid@McDermott.com

SOURCE McDermott International, Ltd