CB&I announced it has been awarded a contract valued at approximately $460 million by NefteGazIndustriya, LLC, through project developer China National Chemical Engineering Co., for the Afipsky Oil Refinery Expansion Project in Krasnodar, Russia. The project was included in CB&I's backlog in the third quarter of 2016.

The scope of work includes detailed engineering, procurement services, construction management services and commissioning services of multiple process units, including a 2.5 million ton per annum hydrocracker unit licensed by Chevron Lummus Global, a joint venture between CB&I and Chevron. CB&I previously announced awards for the technology license and FEED contract for multiple process units, as well as detailed engineering, procurement, fabrication and supply of a steam methane reformer for a large-scale hydrogen plant, hydrocracking heaters and Breech-Lock® exchangers.

"CB&I is pleased to extend our relationship with NefteGazIndustriya and appreciate their confidence in our integrated capabilities," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "The Afipsky refinery modernization is significant for NefteGazIndustriya and building this high-conversion unit will allow it to become one of the most modern and competitive refineries in Russia."

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.

About NefteGazIndustriya

NefteGazIndustriya is a Group of Companies, which has been engaged in crude oil products refining and sale for more than 10 years. The main asset of the Group of Companies is Afipsky oil refinery plant LLC now being significantly upgraded. Implementation of this project by 2019 will make it possible to increase substantially the depth of crude oil conversion from 54% to 93%, and to up-level ecological compatibility of the output products.