CB&I, a wholly owned unrestricted subsidiary of McDermott, has been awarded a significant* contract by Marsa Liquefied Natural Gas LLC, a joint venture between TotalEnergies and OQ for the engineering, procurement, construction (EPC) of a full containment concrete liquefied natural gas (LNG) storage tank, located in Oman's Port of Sohar.

Under the scope of the project, CB&I will provide turnkey EPC services for a 165,000m3 full containment concrete LNG storage tank and associated piping to grade. Project delivery will be executed in Oman, where CB&I has been continually present since 1968, with support from CB&I's Dubai office.

"Through this project, CB&I will contribute to the construction of one of the lowest GHG emissions intensity LNG plants ever built and the energy transition market in Oman," said Cesar Canals, President & CEO of CB&I. "It supports our ambition to build storage for projects that will help provide reliable energy to markets with a reduced environmental impact. It will also pave the way for similar storage opportunities in the future and continues our long history of execution excellence in the Middle East, specifically Oman."

Work is expected to commence with construction activities in the fourth quarter of 2024. The project is targeted for completion in 2028.

*CB&I defines a significant contract as between USD $100 million and $250 million.

About CB&I

CB&I is the world's leading designer and builder of storage facilities, tanks, and terminals. With more than 60,000 structures completed throughout its 130-year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. CB&I is a wholly owned unrestricted subsidiary of McDermott. To learn more, visit www.cbi.com.

About McDermott

McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels, and fabrication facilities around the world.

About TotalEnergies

TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

About OQ

At OQ, we are dedicated to driving positive change through the energy sector. Our unwavering commitment is to maximise the value derived from Oman's energy resources while propelling our transition into a sustainable and prosperous future. As we move forward, our vision, mission, and core principles serve as the guiding light that illuminates our path.