McDermott awarded EPCI contract by Petrobras

|About: McDermott International, ... (MDR)|By:, SA News Editor

McDermott (MDR +2.1%) announced the award of a significant ($250M - $500M) contract by Petrobras for engineering, procurement, construction and installation of subsea risers and flowlines for the first phase of the Sepia field.

The engineering work is expected to begin immediately, and the contract will be reflected in McDermott's 2Q19 backlog.

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