McDermott Awarded Fabrication of “Alen” Project for Gas-Condensate Field Development Offshore West Africa

McDermott International, Inc. (NYSE:MDR) (“McDermott”), announced today that one of its subsidiaries was awarded a contract to fabricate a 15,000 ton platform for Noble Energy’s Alen Gas-condensate Development Project (“Alen project”) off the East coast of Bioko Island, Equatorial Guinea.

“This is a significant win for our fabrication facility in Morgan City, Louisiana,” said Stephen M. Johnson, President and Chief Executive Officer, McDermott International, Inc. “McDermott has exported offshore platforms to West Africa since the early 1990’s from its fabrication facilities worldwide. Our strengths in project constructability in the early phase of field development, coupled with our in house engineering and construction experience, an innovative project plan and strong customer relationship, contributed to the successful award of this work.”

McDermott will manage the construction, loadout and installation aids for a 15,000 ton central production platform, including living quarter, and a smaller 2,000-ton wellhead jacket and pile.

The company’s Morgan City fabrication facility will undertake the work, and at peak approximately 500 people are expected to be employed on the project.

Work is expected to commence in the first quarter of 2011.

The Alen project is a gas and condensate development located in Block “O” in approximately 240 feet of water, off the East coast of Bioko Island.

ABOUT McDERMOTT

McDermott is a leading engineering, procurement, construction and installation (“EPCI”) company 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, the Company’s integrated resources include more than 16,000 employees and a diversified fleet of marine vessels, fabrication facilities and engineering offices. McDermott has served 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 McDermott's actual results of operations. The forward-looking statements in this press release include, among other things, the expected scope, execution, number of personnel 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, 2009.