- McDermott International (MDR -0.1%) says it was awarded a contract for engineering, procurement, construction, installation and commissioning from BP for the Angelin gas field development off Trinidad and Tobago.
- MDR says the contract follows the completion of a multi-phase engineering contract, including front end and pre-front end engineering design and pre-execution engineering contracts previously awarded by BP for the initial design and execution planning of Angelin.
- Confirmation of the award came after BP on Friday sanctioned the project and estimating development costs at $500M; MDR does not provide financial details of its contract.