McDermott to Present at the Future Investment Initiative

19/10/2017 15:43 AST

McDermott International, Inc. (NYSE:MDR) President and Chief Executive Officer David Dickson is scheduled to speak on a panel at the Future Investment Initiative in Riyadh, Saudi Arabia on October 26, 2017 at 9 a.m. Arabia Standard Time (1 a.m. Central time).

His Royal Highness Prince Mohammad bin Salman bin Abdulaziz Al-Saud, Crown Prince, Chairman of the Public Investment Fund of Saudi Arabia, will open the three-day conference on October 24.

McDermott will participate in the panel "Manufacturing 4.0: Going Global and Staying Local," discussing the opportunities to bring large-scale manufacturing out of traditional industrial hubs and closer to the localities where products are ultimately used. McDermott recently signed two memorandums of understanding (MOUs) with Saudi Aramco. One MOU is for a long-term land lease at the new maritime facility in Ras Al Khair, Saudi Arabia to build a state of the art fabrication center. The second MOU expands and develops the Company's physical and human capital within Saudi Arabia in support of Aramco's In-Kingdom Total Value Add initiative. Both announcements highlight the importance McDermott places on leadership, local presence, innovation and meeting or exceeding local needs.

More than 2,500 attendees will discuss long-term investment and global trends across a broad range of topics at the three-day invitation-only event in support of Saudi Arabia's Vision 2030, a blueprint that charts the path for Saudi Arabia to harness its strategic location and strong investment capabilities.

About the Company
McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates.

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