CB&I announced it has been awarded a contract by Phillips 66 to increase storage capacity at Phillips 66's liquid products terminal in Nederland, Texas.

CB&I's scope of work encompasses the engineering, procurement, fabrication and erection of three large crude oil storage tanks with external steel pontoon type floating roofs.

"This is our third project for Phillips 66 at this terminal, where we are currently building five similar crude storage tanks," said Luke V. Scorsone, Executive Vice President of CB&I's Fabrication Services operating group. "As the industry's most experienced tank builder, we can deliver the safety, quality and schedule performance our customers expect and rely on."

About CB&I

CB&I (NYSE:CBI) is a leading provider of technology and infrastructure for the energy industry. With more than 125 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.

About Phillips 66

Phillips 66 (NYSE: PSX) is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is an integral asset in the portfolio. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $50 billion of assets as of Sept. 30, 2016.