CB&I announced a consortium between CB&I and Saipem S.p.A. has been awarded a contract by Duqm Refinery and Petrochemicals Industries Company L.L.C. (DRPIC) for EPC Package 3 for the Duqm Refinery Project. DRPIC is a joint venture between Oman Oil Company and Kuwait Petroleum International.

The consortium's scope of work for Package 3 encompasses the engineering, procurement and construction of a product export terminal at Duqm Port, a crude tank farm at Ras Markaz and an 80-kilometer crude oil pipeline. CB&I will be performing all of the EPC works for storage tanks at the export terminal and crude tank farm, while Saipem – the leader of Package 3 – will perform the balance of the works. CB&I's portion of the contract is valued at approximately $140 million.

"CB&I has decades of experience in Oman, including the supply of tanks and pressure spheres for Oman Oil Company at their refineries in Sohar and Muscat," said Luke V. Scorsone, Executive Vice President of CB&I's Fabrication Services operating group. "This award provides our customer with certainty in price, schedule and quality, and also creates more work opportunities for Omanis, which is one of the goals of the Duqm project."

About CB&I

CB&I (NYSE:CBI) is a leading provider of technology and infrastructure for the energy industry. With more than125 years of experience, 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.

About Saipem

Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competencies in operations in harsh environments, remote areas and deep water. Saipem provides a full range of services with "EPC" and "EPCI" contracts (on a "turn-key" basis) and has distinctive capabilities and unique assets with a high technological content.