CB&I Awarded Contract by Saipem Clough JV for Ammonia, Other Process Tanks for Perdaman Chemicals and Fertilisers in Western Australia

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Oct 10, 2024, 07:00 ET

HOUSTON, Oct. 10, 2024 /PRNewswire/ -- CB&I, a wholly owned unrestricted subsidiary of McDermott, has been awarded a sizeable* lump sum contract by the Saipem Clough joint venture for engineering, procurement and construction (EPC) of ammonia storage and other process tanks for the Perdaman Chemicals and Fertilisers Urea Plant located on the Burrup Peninsula, Western Australia.

Under the scope of the project, CB&I will provide EPC services for a 10,000MT full containment ammonia storage tank and associated piping to grade, as well as ten API650 storage tanks. Project delivery will be led from CB&I's Perth office, with CB&I's Plainfield, Ill. (USA) and Thailand offices providing engineering, fabrication and tank building support.

"Selection of CB&I reflects our strong position as the premier tank builder in the ammonia storage tank market," said Mark Butts, Senior Vice President of CB&I. "We will leverage decades of tank building experience in Australia and subsequently strengthen our portfolio in the region."

CB&I's construction activities are expected to commence in the first quarter of 2025 with project completion in 2028.

The Perdaman Chemicals and Fertilisers development will be the world's largest gas stream ammonia-urea plant. The Burrup Peninsula is approximately eight kilometers from Dampier and 20 kilometers northwest of Karratha on the northwest coastline of Western Australia.

*CB&I defines a sizeable contract as between USD $10 million and $50 million.

About CB&I
CB&I is the world's leading designer and builder of storage facilities, tanks, and terminals. With more than 60,000 structures completed throughout its 130-year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. CB&I is a wholly owned unrestricted subsidiary of McDermott. To learn more, visit www.cbi.com.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels, and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected scope, value, timing, and execution of the project discussed in this press release. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott's management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

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SOURCE McDermott International, Ltd