February 2010 Vol. 237 No. 2


McDermott Acquires Interests In Construction Vessels

J. Ray McDermott, S.A., a subsidiary of McDermott International, Inc. has finalized a transaction with Oceanteam ASA for the construction vessel, North Ocean 102 (NO102) and a new build vessel, North Ocean 105 (NO105). J. Ray will have a 50% percent ownership stake in the NO102 vessel-owning company and a 75% ownership stake in the NO105 vessel-owning company – and will partner with Oceanteam to construct the new-build NO105. J. Ray has agreed to charter the vessels for five years from these respective companies after which, J. Ray can buy Oceanteam’s shares in both vessel- owning companies. J. Ray intends to use the vessels to install products and facilities for t

Log in to view this article.

Not Yet A Subscriber? Here are Your Options.

1) Start a FREE TRIAL SUBSCRIPTION and gain access to all articles in the current issue of Pipeline & Gas Journal magazine.

2) SUBSCRIBE to Pipeline & Gas Journal magazine in print or digital format and gain ACCESS to the current issue as well as to 3 articles from the PGJ archives per month. $199 for an annual subscription*.

3) Start a FULL ACCESS PLAN SUBSCRIPTION and regain ACCESS to this article, the current issue, all past issues in the PGJ Archive, access to all special reports, special focus supplements and more. $1,395 for an annual subscription.  For information about group rates or multi-year terms, contact J'Nette Davis-Nichols at Jnette.Davis-Nichols@GulfEnergyInfo.com or +1 713.520.4426*.



*Access will be granted the next business day.


{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}