Qingdao McDermott Wuchuan is a 50/50 joint venture between a subsidiary of McDermott International, Inc. (McDermott) and a subsidiary of CSIC. The joint venture was formed in June 2008 for the provision of Engineering, Procurement and Construction (EPC) services to the offshore oil and gas industry.

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, McDermott 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, McDermott'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 industry since 1923.

www.mcdermott.com

McDermott Wuchuan Company Charter

Established in July 1999, China Shipbuilding Industry Corporation (CSIC) is a major state-owned enterprise group and one of China's largest shipbuilding and shiprepairing groups. It has 46 industrial subsidiaries and 28 R&D institutes.

CSIC is an entity directly under the state government with state authorization for investment and capital management. The group has a total asset base of USD 27.54 billion and a workforce of 140,000.

In addition to having the largest shipbuilding and shiprepair facilities in China, CSIC is also the leading player in the research and design of naval and merchant ships. The group's 28 R&D institutes employ more than 30,000 engineers.CSIC has eight state-level laboratory centres,seven state-level enterprise technological centres and 150 large-scale laboratories.

www.csic.com.cn/