THE WOODLANDS, Texas,
March 20, 2017 /PRNewswire/
-- CB&I (NYSE:CBI) today announced it has been awarded a
contract valued at approximately $460
million by NefteGazIndustriya, LLC, through project
developer China National Chemical Engineering Co., for the Afipsky
Oil Refinery Expansion Project in Krasnodar, Russia. The project was included in CB&I's
backlog in the third quarter of 2016.
The scope of work includes detailed engineering, procurement
services, construction management services and commissioning
services of multiple process units, including a 2.5 million ton per
annum hydrocracker unit licensed by Chevron Lummus Global, a joint
venture between CB&I and Chevron. CB&I previously announced
awards for the technology license and FEED contract for multiple
process units, as well as detailed engineering, procurement,
fabrication and supply of a steam methane reformer for a
large-scale hydrogen plant, hydrocracking heaters and Breech-Lock®
exchangers.
"CB&I is pleased to extend our relationship with
NefteGazIndustriya and appreciate their confidence in our
integrated capabilities," said Philip K.
Asherman, CB&I's President and Chief Executive Officer.
"The Afipsky refinery modernization is significant for
NefteGazIndustriya and building this high-conversion unit will
allow it to become one of the most modern and competitive
refineries in Russia."
About CB&I
CB&I (NYSE:CBI) is a leading provider of technology and
infrastructure for the energy industry. With over 125 years of
experience and the expertise of more than 40,000 employees,
CB&I provides reliable solutions to our customers around the
world while maintaining a relentless focus on safety and an
uncompromising standard of quality. For more information, visit
www.CBI.com.
Important Information For Investors And Shareholders
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding
CB&I and represents our expectations and beliefs concerning
future events. These forward-looking statements are intended to be
covered by the safe harbor for forward-looking statements provided
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties. When considering any statements that are predictive
in nature, depend upon or refer to future events or conditions, or
use or contain words, terms, phrases or expressions such as
"achieve," "forecast," "plan," "propose," "strategy," "envision,"
"hope," "will," "continue," "potential," "expect," "believe,"
"anticipate," "project," "estimate," "predict," "intend," "should,"
"could," "may," "might" or similar forward-looking statements, we
refer you to the cautionary statements concerning risk factors and
"Forward-Looking Statements" described under "Risk Factors" in Item
1A of our Annual Report filed on Form 10-K filed with the SEC for
the year ended December 31, 2015, and
any updates to those risk factors or "Forward-Looking Statements"
included in our subsequent Quarterly Reports on Form 10-Q filed
with the SEC, which cautionary statements are incorporated herein
by reference.
Investors: Scott Lamb, +1 832
513 1068, Scott.Lamb@CBI.com
Media: Gentry Brann, +1 832 513 1031,
Gentry.Brann@CBI.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/cbi-awarded-contract-for-hydrocracking-unit-for-afipsky-oil-refinery-expansion-project-300425895.html
SOURCE CB&I