McDermott Awarded Petrochemicals Technology Contract in Hungary

- Technology award for MOL Petrochemicals complex in Tiszaújvaros, Hungary

HOUSTON, May 23, 2019 /PRNewswire/ -- McDermott International, Inc. (NYSE: MDR) today announced that it has been awarded a sizeable* technology contract by MOL Petrochemicals for the basic engineering, technology license, catalyst and Front End Engineering Design (FEED) for an Olefins Conversion Technology (OCT) unit at MOL's petrochemicals complex in Tiszaújvaros, Hungary. Once complete, this unit will have a production capacity of 100,000 MTA of polymer grade propylene from steam cracker and refinery feedstocks, utilizing Lummus' proprietary OCT, and CDHydro®Deisobutenizer. The unit will also produce an isobutene-rich stream.

Lummus Technology's OCT is the most economical and commercially proven route to on-purpose propylene production, with very low energy consumption due to its energy-neutral chemistry, and low feedstock consumption due to high selectivity.

"We are honored by MOL's selection to use OCT for integration into their petrochemicals business," said Leon de Bruyn, Senior Vice President of McDermott's Lummus Technology business. "OCT is recognized as the most economical route for utilizing C4 and C5feeds from a steam cracker or refinery to increase propylene production in a petrochemicals complex."

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 second quarter 2019 backlog.

*McDermott defines a sizeable contract as between USD $1 millionand 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. To learn more, visit www.mcdermott.com.

Contacts:

Investor Relations 

Scott Lamb

Vice President, Investor Relations

+1 832 513 1068

Scott.Lamb@McDermott.com

Global Media Relations

Gentry Brann

Senior Vice President, Communications, Marketing and Administration

+1 281 870 5269

Gentry.Brann@McDermott.com

Web Site: https://www.mcdermott.com/

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