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CB&I Announces Offshore Award For Project In Norwegian Sea

CB&I (NYSE: CBI) announced today that it has been awarded a project valued in excess of US$180 million by HYUNDAI Heavy Industries Co., Ltd. (HHI).

CB&I's scope of work, which will commence in the first quarter, includes detailed engineering design and procurement services for the spar topside that is part of Statoil's Aasta Hansteen field development project off the coast of Norway.

When operation begins, the production platform will be the world's largest, capable of producing 812 million cubic feet (23 million cubic meters) of gas a day and storing 160,000 barrels of condensate.

“We are pleased to work with HHI on this landmark project,” said Lasse Petterson, Executive Vice President and Chief Operating Officer. “The award builds on our extensive work history engineering offshore topsides and our successful track record on the Norwegian Continental Shelf.”

About CB&I

CB&I (NYSE: CBI) is the most complete energy infrastructure focused company in the world and a major provider of government services. Drawing upon more than a century of experience and the expertise of approximately 50,000 employees, CB&I provides reliable solutions while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information visit www.CBI.com.

Copyright Business Wire 2010

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