HOUSTON, March 26, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) announced today a sizeable*
contract award from Unipetrol RPA for engineering, procurement and
construction management (EPCM) services for its refinery in
Litvinov, Czech Republic.
The contract includes the full suite of EPCM services for the
upgrade of Unipetrol's hydrocracking unit. McDermott previously
completed the feasibility study and basic engineering design and
will now execute the procurement and installation phase.
"This award is testament to McDermott's long-standing
relationship and extensive track record with Unipetrol," said
Tareq Kawash, McDermott's Senior
Vice President for Europe,
Africa, Russia and Caspian. "We believe our ability to combine
local knowledge and global expertise makes us uniquely positioned
to execute this project."
During the last two decades, McDermott has successfully executed
a number of feasibility studies, front end engineering and design
(FEED) and EPCM projects for Unipetrol at their refineries and
petrochemical facilities in the Czech
Republic.
The project is scheduled to be fully executed from McDermott's
Brno, Czech Republic, office with
completion expected in second quarter 2020.
Work on the project will begin immediately and the contract
award will be reflected in McDermott's first quarter 2019
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 32,000
employees, a diversified fleet of specialty marine construction
vessels and fabrication facilities around the world. As used in
this press release, McDermott includes McDermott International,
Inc. and its subsidiaries and affiliates. To learn more, visit
www.mcdermott.com.
About Unipetrol
The Unipetrol Group is the largest refinery and petrochemical
company in the Czech Republic. It
focuses primarily on crude oil processing, distribution and sale of
fuel and petrochemical products — particularly plastics and
fertilisers. In all these fields, the group is a key player on both
the Czech and Central European market. The Unipetrol Group includes
refineries and production plants in Litvínov and Kralupy nad
Vltavou, Paramo with the Mogul brand in Pardubice and Kolín,
Spolana in Neratovice, and two research centres in Litvínov and
Brno. Unipetrol also owns the Benzina network of petrol stations
with 409 stations, which is the largest chain in the Czech Republic. Unipetrol is one of the
largest companies in the Czech
Republic in terms of turnover. The group created revenue of
over CZK 130 billion last year and employs more than 4,700 people.
In 2005, Unipetrol became part of the PKN Orlen Group, the largest
crude oil processor in Central
Europe.
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 backlog, to the extent backlog
may be viewed as an indicator of future revenues or profitability,
and statements about the expected value, 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,
2018. 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:
Unipetrol
Pavel Kaidl
Spokesperson
+420 225 001 407 or +420 736 502 520
pavel.kaidl@unipetrol.cz
McDermott International, Inc.
Investor Relations
Scott Lamb
Vice President, Investor Relations
+1 832-513-1068
Scott.Lamb@McDermott.com
Global Media Relations
Gentry Brann
Vice President, Communications & Marketing
+1
281-870-5269
Gentry.Brann@McDermott.com
Local Area Media Relations
Zoe Keenan
Communications Manager
Europe, Africa, Russia and Caspian
+447917581727
zakeenan@mcdermott.com
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SOURCE McDermott International, Inc.