McDermott Gets Petrochemicals Contract In Kuwait - Quick Facts

(RTTNews) - McDermott International, Inc. (MDR) on Monday has been awarded a technology contract by the Kuwait Integrated Petroleum Industries Co. (KIPIC), a subsidiary of Kuwait Petroleum Corp. (KPC), 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 McDermott's Lummus Technology has licensed and will be reflected in McDermott's first quarter 2019 backlog.

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.