THE WOODLANDS, Texas,
Sept. 18, 2017 /PRNewswire/
-- CB&I (NYSE:CBI) today announced a consortium between
CB&I and Saipem S.p.A. has been awarded a contract by Duqm
Refinery and Petrochemicals Industries Company L.L.C. (DRPIC) for
EPC Package 3 for the Duqm Refinery Project. DRPIC is a joint
venture between Oman Oil Company and Kuwait Petroleum
International.
The consortium's scope of work for Package 3 encompasses the
engineering, procurement and construction of a product export
terminal at Duqm Port, a crude tank farm at Ras Markaz and an
80-kilometer crude oil pipeline. CB&I will be performing all of
the EPC works for storage tanks at the export terminal and crude
tank farm, while Saipem – the leader of Package 3 – will perform
the balance of the works. CB&I's portion of the contract is
valued at approximately $140
million.
"CB&I has decades of experience in Oman, including the supply of tanks and
pressure spheres for Oman Oil Company at their refineries in Sohar
and Muscat," said Luke V. Scorsone,
Executive Vice President of CB&I's Fabrication Services
operating group. "This award provides our customer with certainty
in price, schedule and quality, and also creates more work
opportunities for Omanis, which is one of the goals of the Duqm
project."
About CB&I
CB&I (NYSE:CBI) is a leading provider of technology and
infrastructure for the energy industry. With more than125 years of
experience, 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.
About Saipem
Saipem is one of the world leaders in
drilling services, as well as in the engineering, procurement,
construction and installation of pipelines and complex projects,
onshore and offshore, in the oil & gas market. The company has
distinctive competencies in operations in harsh environments,
remote areas and deep water. Saipem provides a full range of
services with "EPC" and "EPCI" contracts (on a "turn-key" basis)
and has distinctive capabilities and unique assets with a high
technological content. Website: www.saipem.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, 2016, 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
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SOURCE CB&I