CB&I Awarded Contract by Viva Energy for its Newport Terminal Tank Replacement Project Located in Melbourne, Australia

HOUSTON, Nov. 7, 2024 /PRNewswire/ -- CB&I, a wholly owned unrestricted subsidiary of McDermott, has been awarded a sizeable* lump sum contract by Viva Energy for engineering, procurement and construction (EPC) of two 10ML diesel tanks and associated civil, structural, mechanical and piping works for its diesel tank replacement project, located in Newport, Melbourne, Australia.

Under the contract, CB&I will deliver the diesel tank replacement, including all piping and civil infrastructure. Project delivery will be led from CB&I's Brisbane office, with CB&I's Thailand office providing engineering and fabrication support.

"CB&I continues to show its strength in the region with this latest project award," said Mark Butts, Senior Vice President of CB&I. "It is just one of several projects we have been selected to deliver for Viva Energy over the years. CB&I's proven history of delivering projects in Australia with a focus on the highest quality and safety standards were differentiators between us and our competitors."

CB&I's construction activities commence in the third quarter of 2024 with project completion targeted in late 2025.

*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