McDermott International, Inc. (NYSE: MDR) and Kuwait Integrated Petroleum Industries Company (KIPIC), a subsidiary of Kuwait Petroleum Corporation (KPC), announced that KIPIC has awarded McDermott a technology contract for the basic engineering, technology license and catalyst for an integrated Low Pressure Recovery (LPR) and Olefins Conversion Technology (OCT) unit at KIPIC’s Petrochemical Refinery Integration Project (PRIZe) in Al Zour, Kuwait. Once complete, this unit will produce 330,000 metric tons per annum of polymer grade propylene using refinery by-product streams.
“This award marks the 50th OCT unit that Lummus Technology has licensed, and we are honored to celebrate this milestone with KIPIC,” said Leon de Bruyn, Senior Vice President of McDermott’s Lummus Technology business. “This is a significant achievement that highlights the trust that our customers have in our industry-leading technologies.”
The Petrochemical Refinery Integration project (PRIZe) will add a gasoline block, an aromatics block, OCT unit, polypropylene units, associated utility and offsite facilities to the existing refinery site. The new units will be closely integrated with the ZOR Refinery and LNGI projects which will be operated as an integrated facility once complete.
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 will be reflected in McDermott’s first quarter 2019 backlog.