CC JV Awarded Feed Contract for Onshore Natural Gas Liquefaction Facilities in the Republic of Mozambique

  CC JV Awarded Feed Contract for Onshore Natural Gas Liquefaction Facilities
  in the Republic of Mozambique

Business Wire

THE WOODLANDS, Texas -- December 24, 2012

CB&I (NYSE: CBI) announced today that CC JV, a joint venture comprising of
CB&I and Chiyoda Corporation, has been awarded a contract for the Front End
Engineering and Design (FEED) for the onshore natural gas liquefaction
facility project in an LNG park in the Cabo Delgado Province of northern area
of the Republic of Mozambique by Anadarko Moçambique Area 1 Limitada.^1

The project has the potential to expand its capacity up to approximately 50
million metric tonnes per annum (mmtpa) of LNG in the future. The FEED will
deliver designs for the initial phase of the Mozambique LNG project of four
trains each with 5 mmtpa of LNG production capacity. This project is the first
LNG project in Mozambique. The feed gas comes from offshore production
facilities at Offshore Area 1, operated by Anadarko, and Offshore Area 4,
operated by Eni.^2 The first LNG cargo is targeted for 2018.

^1 Anadarko Moçambique Area 1, Limitada consists of Anadarko Petroleum
Corporation (36.5%), Mitsui E&P Mozambique Area 1, Limited (20%), Empresa
Nacional de Hidrocarbonetos, ep’s (15%), BPRL Ventures Mozambique B.V. (10%),
Videocon Mozambique Rovuma 1 Limited (10%) and PTT Exploration & Production
Plc (8.5%).

^2 Eni is the operator of Area 4 with a 70% participating interest. The other
partners of the joint venture are GalpEnergia (10%), KOGAS (10%) and ENH (10%,
carried through the exploration phase).

About CB&I

CB&I (NYSE: CBI) engineers and constructs some of the world’s largest energy
infrastructure projects. With premier process technology, proven EPC
expertise, and unrivaled storage tank experience, CB&I executes projects from
concept to completion. Safely. Reliably. Globally. For more information, visit
www.CBI.com.

About Chiyoda

Chiyoda Corporation, headquartered in Yokohama, Japan, has for over 60 years
constantly leveraged its extensive experience and far- reaching global network
to give it an unrivaled advantage, and has been at the forefront of this
relentless drive for innovative plant design and world-class project
execution, having been involved in every part of the gas value chain since the
inception of the LNG industry in the Middle East, Africa, Russia, South East
Asia and Oceania regions.

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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, 2011, 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.

Contact:

CB&I
Media: www.CBI.com
Investors: Christi Thoms, +1 832-513-1200