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Gold/Mining/Energy : MDR: McDermott International

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From: Condo4/10/2008 2:59:44 AM
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McDermott International Inc. said Wednesday it received a contract to build a natural gas platform for use off the northwest coast of Western Australia.

The deal is part of a $4.6 billion project known as the North West Shelf Venture that seeks to ensure that one of Australia's richest petroleum fields continues commercial production for another quarter-century.

A unit of J. Ray McDermott SA was awarded a contract to construct the North Rankin B platform substructure and piles by Woodside Energy Ltd.

McDermott did not disclose the value of the contract but said such deals "are typically valued in excess of $100 million." Earlier this month a KBR (nyse: KBR - news - people ) Inc. joint venture received a $320 contract to build a platform for the North West Shelf Venture.
forbes.com
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