Technology award from INEOS for CATOFIN® dehydrogenation in Europe
- Award includes technology license and engineering, plus catalyst from Clariant
- This is the first major grassroots investment for INEOS
McDermott International, Inc. (NYSE: MDR) Wednesday (Oct 10) announced that it has been awarded a sizeable* technology contract by INEOS for the license and engineering of a planned propane dehydrogenation (PDH) unit in Europe.
The unit will utilize McDermott's Lummus Technology CATOFIN dehydrogenation process to produce 750,000 metric tons of propylene per year. It will also utilize CATOFIN catalyst and heat generating material from Clariant. This process provides high conversion of propane to propylene which results in lower investment and operating costs for owners.
"INEOS has selected McDermott for its first major grassroots investment," said Daniel M. McCarthy, Executive Vice President of McDermott's Lummus Technology business. "This award is a strong testament to the reliability and performance of our CATOFIN technology and catalyst."
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 third quarter 2018 backlog.
* McDermott defines a sizeable contract as between USD $1 million and USD $50 million.