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CB&I Announces Award for Delayed Coker Unit

Donnerstag, 01.12.2016 14:05 von

PR Newswire

THE WOODLANDS, Texas, Dec. 1, 2016 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been awarded a contract by Naftna Industrija Srbije (NIS) for the engineering, procurement and construction management of a delayed coker unit in Pancevo, Serbia. CB&I previously announced an award of the technology license and front-end engineering and design for the delayed coker that will be integrated with the refinery's existing CB&I fluid catalytic cracking unit and Chevron Lummus Global hydrocracker. Chevron Lummus Global is a joint venture between CB&I and Chevron.

"CB&I is pleased to have been selected for this significant project following the successful completion of an extensive process planning study for the NIS Pancevo Oil Refinery," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "NIS and CB&I have a history of successful collaboration, and we look forward to working with them on this modernization that will provide for the refining of heavy oil residues."

About CB&I
CB&I (NYSE:CBI) is a leading provider of technology and infrastructure for the energy industry. With over 125 years of experience and the expertise of more than 40,000 employees, 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

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, 2015, 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).

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SOURCE CB&I