HOUSTON,
Dec. 20, 2018
/PRNewswire/ -- McDermott International, Inc. (NYSE: MDR)
today announced that it has been awarded a sizeable* technology
contract by HPCL Rajasthan Refinery Ltd. (HRRL) for the license and
basic engineering design of two 490 KTA polypropylene plants in
Pachpadra Tehsil, Barmer District, Rajasthan, India. The plants will use Lummus' proprietary
NOVOLEN® process reactors and proprietary NHP® catalyst to produce
a full range of leading polypropylene products for the Indian and
regional markets.
"This is the largest Novolen licensed polypropylene award
to date, and the largest polypropylene plant in India," said Daniel M.
McCarthy, Executive Vice President of McDermott's Lummus
Technology business. "Our process includes a high degree of
flexibility to adjust to market demand, and HRRL will enjoy the
full benefits of economies of scale and technology capability for
this world-scale plant."
McDermott's Lummus Technology is a leading licensor
of proprietary petrochemicals, refining, gasification and gas
processing technologies, and a supplier of proprietary catalysts
and related engineering. With a heritage spanning more than 100
years, encompassing approximately 3,100 patents and patent
applications, Lummus Technology provides one of the industry's most
diversified technology portfolios to the hydrocarbon processing
sector.
This award was reflected in McDermott's third quarter 2018
backlog.
* McDermott defines a sizeable contract as between USD
$1 million and USD $50 million.
About McDermott
McDermott is a premier, fully integrated provider of
technology, engineering and construction solutions to the energy
industry. For more than a century, customers have trusted McDermott
to design and build end-to-end infrastructure and technology
solutions to transport and transform oil and gas into the products
the world needs today. Our proprietary technologies, integrated
expertise and comprehensive solutions deliver
certainty, innovation and added value to energy projects around the
world. Customers rely on McDermott to deliver certainty to the most
complex projects, from concept to commissioning. It is called the
"One McDermott Way." Operating in over 54 countries, McDermott's
locally focused and globally-integrated resources include
approximately 40,000 employees, a diversified fleet of specialty
marine construction vessels and fabrication facilities around the
world. To learn more, visit www.mcdermott.com.
Forward-Looking Statements
In accordance with the Safe Harbor provisions of the
Private Securities Litigation Reform Act of 1995, McDermott
cautions that statements in this press release which are
forward-looking, and provide other than historical information,
involve risks, contingencies and uncertainties that may impact
McDermott's actual results of operations. These forward-looking
statements include, among other things, statements about the
expected scope, execution and timing of the project discussed in
this press release. 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 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 and adverse outcomes in legal or other dispute
resolution proceedings. If one or more of these risks materialize,
or if underlying assumptions prove incorrect, actual results may
vary materially from those expected. For a more complete discussion
of these and other risk factors, please see McDermott's annual and
quarterly filings with the Securities and Exchange Commission,
including its annual report on Form 10-K for the year ended
December 31, 2017 and subsequent
quarterly reports on Form 10-Q. This press release reflects
management's views 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:
Investor Relations
Scott
Lamb
Vice President, Investor
Relations
+1 832-513-1068
Scott.Lamb@McDermott.com
Global Media Relations
Gentry
Brann
Global Vice President,
Communications
+1 281-870-5269
Gentry.Brann@McDermott.com
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SOURCE McDermott International, Inc.