McDermott and PETROFUND Partner to Advance Namibia's Energy Talent Pipeline

HOUSTON and WINDHOEK, Namibia, Oct. 8, 2025 /PRNewswire/ -- McDermott and Namibia's Petroleum Training and Education Fund (PETROFUND) jointly announce the signing of a Memorandum of Understanding (MOU) to collaborate on academic and industrial training initiatives in Namibia's upstream oil and gas sector.

The collaboration will align with international standards to provide Namibian students, job seekers and service providers access to training, mentorship and employment opportunities. The upskilling and knowledge transfer aspect of the agreement is designed to equip the local workforce with the skills needed for technical roles such as engineering, fabrication, operations and project management to unlock the country's offshore energy potential.

"This MOU furthers our commitment to developing local content and building a sustainable oil and gas workforce in Namibia," said Mahesh Swaminathan, McDermott's Senior Vice President, Subsea and Floating Facilities. "By investing in the next generation of Namibian talent, we help prepare them to lead future projects as Namibia emerges as a key player in Africa's energy landscape."

"Our partnership with McDermott supports PETROFUND's mandate to build the capacity of Namibia's workforce and service providers to participate in the emerging opportunities within the country's upstream oil and gas industry," said Nillian Mulemi, PETROFUND Chief Executive Officer. "Capacity-building collaborations with international service companies promote the exchange of global best practices and technical expertise with local talent, thereby positioning Namibia's workforce and service providers to play active roles across the full value chain of the upstream industry, while driving and sustaining economic growth in the country."

This initiative supports both the growth of Namibia's oil and gas industry and its broader economic development goals, ensuring Namibians are well-positioned to participate in and benefit from progress across the energy value chain.

About McDermott
McDermott is a premier, fully integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure, empowering a brighter, more sustainable future for us all. Operating in over 30 countries, McDermott's locally focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of speciality marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

About PETROFUND
The Petroleum Training and Education Fund (PETROFUND) is a statutory body of the Government of the Republic of Namibia, established in 1992 to enhance capacity within the country's upstream petroleum sector. PETROFUND builds capacity through training, institutional development, scholarships and the promotion of science, engineering and technology. The establishment of PETROFUND aligns with the Petroleum (Exploration and Production) Act of 1991. Additionally, PETROFUND is funded by oil exploration companies granted exploration rights in Namibia through agreements with the Namibian Ministry of Industries, Mines and Energy. To learn more, visit www.petrofund.org

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking and provide other than historical information involve risks, contingencies and uncertainties. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialise, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott's management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

Contacts:
McDermott International
Global Media Relations
Reba Reid
+1 281 588 5636
[email protected]

PETROFUND
Communications and Stakeholder Engagement Division
Shoki Kandjimi
+264 817524536
[email protected]

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SOURCE McDermott International, Ltd