US-based McDermott signs technology contract with Serbia's NIS

McDermott's subsidiary Lummus Technology will provide the license and basic engineering for the Indmax FCC technology and CDEtbe unit for the production of bioethanol base Ethyl Tertiary Butyl Ether (ETBE) in Pancevo, the company said in a statement on Tuesday.

"This award represents the first license of the Indmax FCC technology in Europe, demonstrating the increasing interest in Indmax FCC globally. NIS will benefit from the added process flexibility and improved economics for many years to come," said Leon de Bruyn, senior vice president of Lummus Technology.

Previously, NIS has also selected the hydrocracking technology from Lummus Technology's joint venture, Chevron Lummus Global (CLG), as well as, more recently, Lummus Technology's delayed coking technology.

NIS, 56.15%-owned by Russia's Gazprom, is one of the largest vertically integrated oil and gas companies in Southeast Europe. Its main activities include the exploration, production and processing of oil and gas, as well as the production and retail trade with a wide range of petroleum products. Serbia's government owns a 29.87% stake in NIS.