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    J Ray McDermott completes acquisition of Secunda

    News // July 31, 2007

    J Ray McDermott, a subsidiary of McDermott International, has announced that its affiliate has completed its acquisition of Secunda International Limited, including 14 harsh-weather, multi-functional vessels, with capabilities which include subsea construction, pipelay, cable lay and dive support, as well as its shore base operations, for approximately US$260 million.

    "We are pleased to complete this purchase and to begin integrating certain of these assets into J Ray's strong backlog of offshore oil & gas construction projects," said Bob Deason, Chief Executive Officer of J Ray. "With Secunda, J Ray enhances the ability to utilize its larger marine assets for higher value activities, increases the number of activities which can be self-performed, and additionally, supports its growing subsea development activities."

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