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McDermott Wins Platforms and Infield Flowline Contract in Indonesia

  McDermott Wins Platforms and Infield Flowline Contract in Indonesia

Business Wire

HOUSTON -- February 4, 2013

McDermott International, Inc. (NYSE: MDR) (“McDermott”) announced today that
its Indonesian subsidiary has been awarded a contract by PC Muriah Ltd., an
affiliate of PETRONAS Carigali Sdn. Bhd., to develop offshore surface
facilities and an infield flowline for the Kepodang Field, located
approximately 180 kilometers northeast of Semarang, Central Java, in water
depths of up to 70 meters. The project will be included in McDermott's fourth
quarter 2012 backlog.

The award includes the procurement, construction, installation and
commissioning of a 5,802-tonne central processing platform; a 1,298-tonne
wellhead platform; a 2.7-kilometer-long, 10-inch diameter infield flowline;
and installation of remote control facilities at the onshore receiving
facilities.

“We are very pleased to undertake this competitively tendered project for
Petronas in Indonesia,” said Scott Cummins, Senior Vice President and General
Manager of McDermott Asia Pacific. “Winning this project is not only a strong
testament of our capabilities; it also shows the client’s confidence in our
ability to deliver the best value.”

Procurement engineering has already started and fabrication of the facilities
will take place at the McDermott Batam yard in Indonesia. Transportation and
installation will involve a diverse range of vessels from the McDermott fleet,
including a 300-class float-over barge that will install the central
processing platform’s 3,078-ton topsides. Project completion, including hookup
and commissioning, is expected to be in the fourth quarter of 2014.

ABOUT McDERMOTT

McDermott is a leading engineering, procurement, construction and installation
group of companies focused on executing complex offshore oil and gas projects
worldwide. Providing fully integrated EPCI services for upstream field
developments, the Company delivers fixed and floating production facilities,
pipelines and subsea systems from concept to commissioning. McDermott’s
customers include national and major energy companies. Operating in more than
20 countries across the Atlantic, Middle East and Asia Pacific,our integrated
resources include approximately 13,500 employees and a diversified fleet of
marine vessels, fabrication facilities and engineering offices. McDermott has
been serving the energy industry since 1923.

To learn more, please visit McDermott’s website on the internet at
www.mcdermott.com.

FORWARD LOOKING STATEMENTS

In accordance with the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995, McDermott International, Inc. cautions that
statements in this press release which are forward-looking and provide other
than historical information involve risks and uncertainties that may impact
actual outcomes. The forward-looking statements in this press release include,
among other things, the expected scope, execution and timing associated with
this project. Although McDermott's management believes that the expectations
reflected in those forward-looking statements are reasonable, McDermott can
give no assurance that those expectations will prove to have been correct.
Those statements are made based on various underlying assumptions and are
subject to numerous uncertainties and risks, including without limitation,
changes in project design or schedules, contract cancellations, change orders
and other modifications, and difficulties executing on the project. If one or
more of these risks materialize, or if underlying assumptions prove incorrect,
actual results may vary materially from those expected.

For a more complete discussion of these and other risk factors, please see
McDermott's annual report on Form 10-K for the year ended December 31, 2011
and subsequent quarterly reports on Form 10-Q. This news release reflects
management's view 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.

Contact:

McDermott International, Inc.
Investors, Analysts and Financial Media
Steve Oldham, (1) 281-870-5147
soldham@mcdermott.com
Trade & General Media
Louise Denly, (1) 281-870-5025
ldenly@mcdermott.com
Regional Media Asia Pacific
David Wong, (65) 6668-5358
DWong2@mcdermott.com