CB&I Awarded FEED Contract for Hydrocracker Complex in Russia

News provided by

Dec 09, 2013, 08:00 ET

THE WOODLANDS, Texas, Dec. 9, 2013 /PRNewswire/ -- CB&I (NYSE: CBI) announced today it has been awarded a contract by JSC Gazprom Neft for front end engineering and design (FEED) services for a new oil refining complex at Gazprom Neft's refinery in Omsk, Western Siberia, Russia. The existing refinery is currently the largest operating refinery in Russia.

CB&I's project scope includes FEED development for multiple new process units, including a two million ton per annum hydrocracker unit licensed by Chevron Lummus Global (CLG), as well as hydrogen, sulfur and other associated units.

"CB&I has been selected for this significant project following the successful delivery of a similar hydrocracker complex earlier this year for Gazprom Neft in Pancevo, Serbia," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "CB&I appreciates Gazprom Neft's confidence in our ability to deliver results and is fully committed to meeting our client's expectations on this important project."

About CB&I

CB&I (NYSE:CBI) is the most complete energy infrastructure focused company in the world and a major provider of government services. Drawing upon more than a century of experience and the expertise of approximately 50,000 employees, CB&I provides reliable solutions 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, 2012, 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.

(Logo: http://photos.prnewswire.com/prnh/20130430/DA04155LOGO)

SOURCE CB&I