CB&I Announces Kuwait Refinery Award PR Newswire THE WOODLANDS, Texas, Feb.19, 2014 THE WOODLANDS, Texas, Feb.19, 2014 /PRNewswire/ --CB&I (NYSE: CBI) announced today it has received an award valued at approximately $370 million by the Kuwait National Petroleum Company (KNPC) for its Clean Fuels Project at the Mina Abdullah I refinery in Kuwait. CB&I is part of a joint venture led by Petrofac International Ltd., along with Samsung Engineering Co., Ltd., that will execute the Mina Abdullah I refinery project. CB&I's project scope includes engineering and procurement for two atmospheric residue desulfurization units, which were previously licensed by Chevron Lummus Global, a joint venture between CB&I and Chevron. The Clean Fuels Project is one of KNPC's major investment projects to upgrade the Mina Abdullah and Mina Al-Ahmadi refineries in order to reach a daily production target of 800,000 BPSD from the current 736,000 BPSD. "This award builds on CB&I's proven experience in the refining industry," said Patrick K. Mullen, President of CB&I's Engineering, Construction and Maintenance operating group. "The installation of these units will reduce sulfur, enhancing the ability of Kuwaiti petroleum products to compete on the world market and meet stringent international environmental regulations." 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 Website: http://www.cbi.com Contact: Media: www.CBI.com, or Investors, Christi Thoms, +1 832 513 1200
CB&I Announces Kuwait Refinery Award
Press spacebar to pause and continue. Press esc to stop.