THE WOODLANDS, Texas,
Dec. 7, 2017 /PRNewswire/
-- CB&I (NYSE:CBI) today announced it has been awarded a
contract for more than $95 million by
Saudi Aramco Shell Refinery (SASREF). The scope of work includes
the engineering, procurement and construction management for
SASREF's modernization and expansion of its existing refinery in
Al-Jubail city, Saudi Arabia.
"The relationship between CB&I and SASREF extends back for
more than a decade, and we have been collaborating successfully
during this time," said Duncan
Wigney, CB&I's Executive Vice President of Engineering
& Construction. "This award demonstrates CB&I's ability to
deliver value to SASREF and our other customers in the Middle East. It also enhances CB&I's
position in the region as a leading provider of energy
infrastructure solutions, from conceptual design to fabrication to
EPC delivery."
CB&I has completed the conceptual design and FEED phases of
the project, while working with SASREF to optimize investment on
the new refinery configuration. CB&I's integrated solutions
will give SASREF the operating flexibility needed to generate
maximum returns through sustainable fuels production, which meets
Euro V regulations for cleaner emissions.
About CB&I
CB&I (NYSE:CBI) is a leading
provider of technology and infrastructure for the energy industry.
With more than 125 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 SASREF
SASREF is a joint venture company of
Saudi Aramco and Shell, two of the biggest oil and Gas Company in
the world SASREF aspires to be the best petroleum refinery company
not only in the Kingdom of Saudi
Arabia, but also in Asia
and Middle East. We are embarking
upon a very exciting journey into the future, with aspiring vision
to outperform our past best performance in order to meet the growth
opportunities that lie ahead. For more info, visit
www.SASREF.com.sa
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