HOUSTON, July 2, 2018 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) today announced it has been awarded
two sizeable* technology contracts by a subsidiary of PT Chandra
Asri Petrochemical Tbk, PT Chandra Asri Perkasa, for the company's
planned new petrochemical complex in Indonesia. McDermott's scope of work includes
licensing and basic engineering packages for Lummus Technology's
olefins technology, including Short Residence Time (SRT®) ethylene
heater design and critical supply, and for butadiene extraction
technology.
The steam cracker is expected to produce 1,100 kta of ethylene
and 600 kta of propylene using Lummus Technology's proprietary,
highly selective SRT VII cracking heaters. Additionally, the
complex is expected to produce approximately 175 kta of butadiene
using the market-leading BASF/Lummus Technology butadiene
extraction technology.
"Lummus Technology has a strong relationship with Chandra Asri that goes back more than 25
years," said Daniel M.
McCarthy, Executive Vice President of McDermott's Lummus
Technology business. "We licensed several technologies for their
first complex and look forward to working with them on the second
complex, which will boost petrochemical production to help meet
domestic demand in Indonesia."
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 of technology development
spanning more than 100 years, encompassing approximately 3,500
patents and patent applications, Lummus Technology provides one of
the industry's most robust technology portfolios to the hydrocarbon
processing sector.
* 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—from the
wellhead to the storage tank—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 and engineers, 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 and
execution of the contracts 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.