McDermott International
McDermott International is a global engineering, procurement, construction, fabrication and installation company serving the energy and infrastructure sectors.
Last updated October 30, 2026
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Overview
McDermott International is an energy-infrastructure engineering and construction company headquartered in Houston, Texas, and incorporated in Bermuda. Its business combines engineering, procurement, fabrication, construction, installation and project-management capabilities for complex onshore, offshore, subsea and floating developments. The company works across major energy regions and has historically served international oil companies, national oil companies, utilities and other industrial customers. The business began in 1923, when 24-year-old Ralph Thomas McDermott obtained a contract to build 50 wooden drilling rigs for an oil operator in Luling, Texas. He brought his father, John Raymond McDermott, into the business, establishing the McDermott name. The company moved from Eastland to Luling during the early Texas oil boom and then to Houston in 1932. During its formative period, related McDermott family businesses supplied construction, oilfield and marine services. The organization expanded into Louisiana and the Gulf of Mexico, where it developed capabilities that later became central to its identity as an offshore-construction specialist. McDermott’s early technical development included floating drilling equipment for marshland operations in Texas and Louisiana, dredging assets and specialized marine construction equipment. In 1946, the family businesses were reorganized into J. Ray McDermott & Co., Inc. of Delaware. The following year, the company designed and installed what it described as the first fixed steel offshore platform located out of sight of land, in the Gulf of Mexico. It subsequently acquired equipment and assets that enabled it to respond to the rapid growth of offshore oil production. In 1950, it commissioned Derrick Barge 4, a vessel designed specifically for offshore construction. Over time, the company developed a global project platform built around offshore vessels, fabrication yards, engineering centers and regional execution teams. Its work has included fixed platforms, subsea infrastructure, pipelines, floating facilities, LNG-related infrastructure, power projects and other large-scale energy systems. The company also maintained a government-contracting business through Babcock & Wilcox until that business was spun off in 2010. After the separation, the oil-and-gas services operation discontinued the J. Ray McDermott branding and continued as McDermott International. A major strategic turning point came with the combination of McDermott and Chicago Bridge & Iron Company in 2018. The transaction was intended to create a more vertically integrated contractor with both offshore and onshore engineering and construction capabilities. The combined company inherited substantial LNG, power and industrial-project exposure, but several projects encountered execution and financial difficulties. McDermott sold part of its pipe-fabrication operations, entered into restrictive credit arrangements and ultimately filed for Chapter 11 bankruptcy protection in January 2020. The filing covered the parent company and 247 affiliated entities, and the prepackaged restructuring cancelled the existing common shares. McDermott emerged from Chapter 11 approximately six months later with a reorganized capital structure and a revised strategic emphasis. In the post-restructuring period, it presented itself not only as a conventional oil-and-gas contractor but also as an engineering and delivery partner for the energy transition. Its stated areas of activity have included LNG, offshore transmission, high-voltage direct-current systems, hydrogen, carbon capture and storage, power-to-gas, sustainable fuels and other lower-carbon infrastructure. The company organized its activities around Low Carbon Solutions, Offshore Middle East, and Subsea and Floating Facilities. McDermott’s operating model remains project-based and asset-intensive. Its resources include engineering and project-management teams, fabrication facilities, marine construction vessels and in-country execution capabilities. The company has also upgraded parts of its offshore fleet, including the Amazon deepwater vessel, to support automated pipelay and subsea work. In 2023, it announced a transaction-support and liability-management process intended to extend certain financing facilities, improve liquidity and address legacy legal liabilities. McDermott continues to operate as an active global energy-infrastructure contractor, although its public profile and ownership structure changed substantially after the 2020 restructuring. McDermott’s operating model remains project-based and asset-intensive. Its resources include engineering and project-management teams, fabrication facilities, marine assets and regional execution teams. It serves markets in the Americas, Middle East, Asia-Pacific, Europe and Africa, with activities ranging from LNG and offshore oil and gas to HVDC, hydrogen, carbon management and other lower-carbon infrastructure.
History
McDermott International traces its origins to 1923, when Ralph Thomas McDermott secured a contract to construct 50 wooden drilling rigs for an oil operator in Luling, Texas. He formed a partnership with his father, John Raymond McDermott, whose experience in lumber and oilfield construction helped shape the new enterprise. The company initially operated from Eastland and later moved to Luling during the regional oil boom. In 1932 it relocated to Houston, which became the long-term center of the business. During the 1930s, McDermott expanded beyond basic rig construction. Related family-owned operations supplied oilfield construction and other services, while the company opened a New Orleans office and assembled its first construction crew. It developed floating drilling equipment for low-lying marshes in Texas and Louisiana, acquired dredging assets and created Olsen Dredging Company. These moves gave McDermott early experience in the marine and difficult-access environments that would become important to Gulf of Mexico development. In 1946, the family’s various operations were consolidated as J. Ray McDermott & Co., Inc. of Delaware. A year later, the company designed and installed a fixed steel platform for Superior Oil in the Gulf of Mexico. The platform was located out of sight of land and in approximately 20 feet of water, marking an important step in offshore construction. McDermott acquired assets from the Harry F. Allsman Company in 1948, strengthening its equipment base and capacity for Gulf projects. In 1950, it commissioned Derrick Barge 4, described as the first vessel purpose-built for offshore work, and organized an Oil Division. The company’s subsequent development was closely connected to the expansion of offshore oil and gas. It built a reputation around marine construction, offshore platforms, pipelines, fabrication and installation, supported by specialized vessels and industrial facilities. Its business broadened geographically and technically as customers moved into deeper water and more complex projects. Over the decades, McDermott became a multinational contractor with engineering, procurement, fabrication and construction capabilities serving energy customers around the world. A corporate separation in 2010 reshaped the brand. Shareholders approved the spin-off of the U.S. government-contracting business Babcock & Wilcox and related domestic operations. The remaining oil-and-gas services business stopped using the J. Ray McDermott name and operated under McDermott International. This change made McDermott International the principal identity for the company’s offshore and energy-infrastructure activities. The next major transformation occurred in 2017 and 2018, when McDermott agreed to combine with Chicago Bridge & Iron. The transaction sought to join McDermott’s offshore and marine strengths with CB&I’s onshore engineering and construction capabilities, creating a more vertically integrated contractor. The combination was approved in 2018, after which the company pursued work across LNG, power, industrial facilities, offshore development and related markets. It also entered new contracts with major energy customers and continued to expand its global project portfolio. The combined company encountered serious execution and financial pressure on several LNG and power projects, including projects in Louisiana and Texas. It sold part of its pipe-fabrication operations and secured new credit arrangements while managing the consequences of inherited and ongoing project challenges. In January 2020, McDermott filed for Chapter 11 protection in the Southern District of Texas. The prepackaged case included McDermott International, Inc. and 247 affiliated companies, and the existing common shares were cancelled. McDermott completed the restructuring and emerged from Chapter 11 in June 2020. Its post-bankruptcy strategy emphasized a narrower set of business lines and a stronger focus on technically demanding energy infrastructure. The company identified Low Carbon Solutions, Offshore Middle East, and Subsea and Floating Facilities as strategic areas. It also acquired Siluria Technologies in 2019, adding technology associated with oxidative coupling of methane, and later pursued engineering work connected with hydrogen, carbon capture and storage, power-to-gas, sustainable fuels and offshore electricity transmission. In the early 2020s, McDermott promoted its role in the energy transition while retaining its conventional energy and offshore-construction base. It worked on projects involving HVDC offshore-grid connections, low-carbon fuels, hydrogen hubs and modularized production systems. Its Amazon vessel was upgraded and christened in 2022, supporting subsea and deepwater pipelay work with greater automation and onboard joint-production capabilities. In October 2023, the company announced a transaction-support agreement intended to extend financing facilities, improve liquidity and address certain legacy legal liabilities through Dutch and English restructuring procedures. Today, McDermott operates as an active international engineering and construction brand. Its capabilities span engineering, procurement, fabrication, construction, installation and project management. The company’s operating resources include engineering centers, fabrication yards, marine assets and regional execution teams. It serves markets in the Americas, Middle East, Asia-Pacific, Europe and Africa, with activities ranging from LNG and offshore oil and gas to HVDC, hydrogen, carbon management and other lower-carbon infrastructure.
- 2023
Transaction-support agreement announced
[1]McDermott announced financing extensions, liquidity measures and restructuring processes intended to address legacy liabilities.
- 2022
Amazon vessel upgraded
[1]The upgraded ultra-deepwater Amazon vessel was christened for automated deepwater pipelay and subsea operations.
- 2020
Chapter 11 restructuring
[1]McDermott filed a prepackaged Chapter 11 case and emerged from restructuring approximately six months later.
- 2018
McDermott and CB&I combination completed
[1]The approved combination created a contractor with integrated onshore and offshore engineering and construction capabilities.
- 2010
Babcock & Wilcox business spun off
[1]Shareholders approved the separation of the U.S. government-contracting business and related domestic operations.
- 1950
Derrick Barge 4 commissioned
[1]McDermott commissioned a vessel specifically designed for offshore construction.
- 1947
Early offshore steel platform completed
[1]The company designed and installed a fixed steel platform for Superior Oil in the Gulf of Mexico.
- 1938
Floating drilling equipment introduced
[1]McDermott introduced floating drilling equipment for marshland operations in Texas and Louisiana.
- 1932
Headquarters move to Houston
[1]The company moved to Houston as oil exploration and construction activity expanded in the region.
- 1923
Company founded in Texas
[1]Ralph Thomas McDermott established J. Ray McDermott & Company after winning a contract to build 50 wooden drilling rigs.
Products and positioning
A globally integrated, technically specialized contractor for complex energy infrastructure, combining engineering and project-management capabilities with fabrication yards and a marine construction fleet. Since its 2020 restructuring, the brand has increasingly positioned itself across both conventional energy and lower-carbon infrastructure.
Offshore energy infrastructure
Offshore platforms and marine construction
McDermott designs, fabricates and installs fixed and floating offshore structures, using specialized marine assets and fabrication facilities. Its historical expertise includes Gulf of Mexico platforms and later offshore developments in deeper and more technically demanding waters.
Subsea construction
Subsea and pipelay services
The company provides subsea engineering, pipeline installation, offshore construction and related project services. Its marine fleet includes deepwater pipelay and derrick vessels, while upgraded equipment supports automated operations and the installation of complex subsea systems.
Energy engineering and construction
LNG and onshore energy infrastructure
McDermott delivers engineering, procurement and construction services for LNG, gas-processing, power and industrial projects. These activities expanded significantly through the CB&I combination, which added onshore engineering and construction capabilities to McDermott’s offshore base.
Energy transition services
Low-carbon infrastructure
McDermott applies its engineering and project-delivery capabilities to hydrogen, power-to-gas, carbon capture and storage, offshore HVDC transmission and lower-carbon fuels. These services form part of the company’s post-restructuring strategy to support customers pursuing emissions-reduction goals.
Controversies
2020
Chapter 11 bankruptcy filing
Following difficulties on major LNG and power projects and resulting financial pressure, McDermott filed for Chapter 11 protection. The filing included the parent company and 247 affiliated entities, and existing common shares were cancelled.
2018
TechnipFMC trade-secrets lawsuit
TechnipFMC sued McDermott alleging that trade secrets had been stolen. The available reference does not provide a verified final disposition of the case.
Marketing campaigns
- 2022Energy-transition positioning
Global · Europe · North America · Asia-Pacific
McDermott emphasized its role in the energy transition through work and announcements involving hydrogen, carbon capture and storage, power-to-gas, HVDC transmission and lower-carbon fuels. The positioning broadened the brand beyond conventional offshore oil and gas while retaining its established engineering and marine-construction businesses.
Outcome. The positioning broadened the brand beyond conventional offshore oil and gas while retaining its established engineering and marine-construction businesses.
Brand decisions
2023
Implement transaction-support and liability-management measuresStrategyBackground
McDermott sought to strengthen liquidity and manage legacy legal liabilities after its post-bankruptcy reorganization.
Action taken
The company announced extensions to certain term loans and letter-of-credit facilities and initiated restructuring processes in the Netherlands and United Kingdom.
Aftermath
The measures were intended to support longer-term financial stability and preserve the company’s operating platform.
2020
Complete Chapter 11 restructuringStrategyBackground
Project difficulties and financial pressure following the CB&I combination led the company to seek court-supervised restructuring.
Action taken
McDermott filed a prepackaged Chapter 11 case and emerged with a reorganized structure and revised strategy approximately six months later.
Aftermath
The company focused its resources on Low Carbon Solutions, Offshore Middle East, and Subsea and Floating Facilities.
2017
Combine with Chicago Bridge & IronM&ABackground
McDermott sought to add substantial onshore engineering and construction capabilities to its offshore and marine expertise.
Action taken
McDermott agreed to combine with CB&I, with the transaction approved in 2018.
Aftermath
The combined company became more vertically integrated but later faced execution and financial challenges on several LNG and power projects.
2010
Separate the government-contracting businessStrategyBackground
McDermott’s U.S. government-contracting operations were separated from the oil-and-gas services business.
Action taken
Shareholders approved the spin-off of Babcock & Wilcox and related domestic companies, after which the remaining energy business operated under the McDermott International name.
Aftermath
The separation concentrated the McDermott brand on energy, offshore construction and related industrial services.
Recent events
McDermott appoints Samik Mukherjee as executive vice president and COO[3]
Reported:
McDermott International Ltd announced that Samik Mukherjee was appointed executive vice president and chief operating officer.
McDermott appoints Tareq Kawash to lead its EMEA region[4]
Reported:
McDermott announced Tareq Kawash as Senior Vice President for its Europe, Middle East and Africa region, effective immediately.
McDermott completes restructuring[5]
Reported:
McDermott International completed its restructuring, which converted nearly all of its $4.6 billion in funded debt and left the company with $544 million of funded debt and $2.4 billion in letter-of-credit capacity.
McDermott completes restructuring[6]
Reported:
McDermott announced that it had completed its comprehensive restructuring, which equitized nearly all of its $4.6 billion in funded debt.
McDermott sells former Shaw pipe fabrication assets[7]
Reported:
McDermott International sold the former Shaw Group pipe fabrication assets to Ithaca Acquisitions Holdings. The deal also transferred rights to The Shaw Group trademark; the purchase price was not disclosed.
CB&I Storage Solutions wins two storage tank awards[8]
Reported:
McDermott announced that its storage business, CB&I Storage Solutions, received two Field Erected Storage Tank of the Year awards from the Steel Tank Institute/Steel Plate Fabricators Association.
Ithaca completes acquisition of Shaw pipe fabrication assets[9]
Reported:
Ithaca Acquisition Holdings reported that it completed its acquisition from McDermott International of the former Shaw Group pipe fabrication assets.
McDermott announces planned sale of Lummus Technology[10]
Reported:
McDermott announced plans to sell its petrochemical and refining technology group, Lummus Technology, to The Chatterjee Group and Rhône Group for US$2.7 billion, subject to a court-supervised auction process.
McDermott announces planned Chapter 11 bankruptcy filing[11]
Reported:
McDermott announced that it will file for Chapter 11 bankruptcy as part of a restructuring that the company says will eliminate $4.6 billion in debt.
McDermott announces January 2020 cue giveaway[12]
Reported:
McDermott announced a January 2020 giveaway giving fans a chance to win a customized G437C pool cue; a winner was to be selected at the end of the month.
Sources13 sources
- 1McDermott Internationalen.wikipedia.org
- 2McDermott official websitemcdermott.com
- 3McDermott任命Samik Mukherjee为执行副总裁兼首席运营官rigzone.com
- 4McDermott任命Tareq Kawash领导EMEA地区prnewswire.com
- 5McDermott完成重组rigzone.com
- 6McDermott完成重组prnewswire.com
- 7McDermott出售原Shaw管道制造资产businessreport.com
- 8CB&I Storage Solutions赢得两项储罐奖项prnewswire.com
- 9Ithaca完成收购Shaw管道制造资产rigzone.com
- 10McDermott宣布计划出售Lummus Technologykhl.com
- 11McDermott宣布计划申请第11章破产保护globalconstructionreview.com
- 12McDermott宣布2020年1月球杆抽奖活动azbilliards.com
- 13McDermott Appoints Michael McKelvy President and CEOprnewswire.com
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