June 5, 2019 / 12:56 PM / 6 months ago

BUZZ-McDermott International: Up after contract with Anadarko

** Shares of energy engineering solutions provider up 2.6% in premarket trading after contract with Anadarko Petroleum Corp for LNG development

** The project’s scope includes onshore engineering, procurement and construction (EPC) for all components of the onshore LNG development

** MDR’s initial portion of the EPC contract award is ~$2 billion

** Deal is between CCS JV, a joint venture between McDermott, Saipem and Chiyoda, and Anadarko

** Up to Tuesday’s close, MDR’s shares had fallen ~69% over the last one year

Reporting By Aparajita Saxena in Bengaluru

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