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November 17, 2017

Investors

CB&I Announces Engineering, Procurement and Supply Award for LUKOIL

11/02/2017

THE WOODLANDS, Texas, Nov. 2, 2017 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been awarded a contract by LUKOIL NizhegorodNefteorgSyntez, a subsidiary of JSC LUKOIL, for the detailed engineering, procurement and supply of process equipment, including two proprietary delayed coking heaters for the Deep Conversion Complex in Kstovo City, central Russia. The units will use Chevron Lummus Global's (CLG) delayed coking technology for the processing of 2,100 KTA of refinery residues.

CLG offers the most complete, bottom-of-the-barrel upgrading solutions. In addition to the engineering, procurement and supply contract announced today, CB&I is continuing to work closely with LUKOIL to assess a broader range of solutions for the project.

"CB&I is pleased to be providing a wide range of services to LUKOIL for their project," said Duncan Wigney, CB&I's Executive Vice President of Engineering & Construction. "CLG was previously awarded the coking technology license, and this award demonstrates the value CB&I can bring through an array of technology and engineering solutions to the Russian region."

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 LUKOIL
LUKOIL is one of the largest publicly traded, vertically integrated oil and gas companies in the world accounting for more than 2% of the world's oil production and around 1% of the proved hydrocarbon reserves. While having the full production cycle, LUKOIL exercises full control over the whole production chain — from oil and gas production to petroleum product sales.

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

For more information, visit  www.cbi.com (http:// www.cbi.com ). (PRNewsFoto/CB&I)

 

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SOURCE CB&I

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NYSE: CBI 15.46
Change: +0.10 +0.65% )
Volume: 2,544,848
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