Honeywell Signs $20 Million Service Agreement With MOL Hungarian Oil And Gas

Phoenix - Honeywell announced it was awarded a five-year, Integrated Service Agreement (ISA) worth more than $20 million from a subsidiary of MOL Hungarian Oil and Gas Company, Hungary's largest company, to provide after-market services across MOL's four refinery and petrochemical sites in Hungary and the Slovak Republic.

It will provide full technology support for MOL's existing Honeywell TDC3000®, TPS and Experion® Process Knowledge Systems (PKS), as well as software support, parts management, site services and future technology refreshes to help the plants maintain safe and consistent operating environments.

"One of our primary challenges as a leader in the hydrocarbon processing industry is to continuously improve our operations and set standards for best practices that we and others can sustain over time," said Laszlo Fekete, director of corporate services, MOL Group. "Honeywell technology and services can provide us with efficient, effective solutions that will help us meet our targets and sharpen our global competitiveness."

"Having worked with Honeywell for more than two decades, MOL was confident in our ability to understand its business requirements and provide increased reliability as well as a unified and common approach to service delivery," said Jack Bolick, president of Honeywell Process Solutions. "The contract demonstrates Honeywell's ability to capitalize on our local expertise across multiple markets to deliver consistent, efficient services that provide our customers with improved business performance and increased competitiveness."

MOL is one of Europe's largest integrated oil and gas companies and is the largest company in Hungary in terms of sales. Honeywell's relationship with MOL dates back to 1983, and in 2004 it was awarded MOL's Annual Supplier Award for outstanding performance of its process control systems.

SOURCE: Honeywell International