CB&I Announces Technology and Development Contract for Residue Upgrading Complex in Sweden

06/16/2016

THE WOODLANDS, Texas, June 16, 2016 /PRNewswire/ -- CB&I (NYSE:CBI) today announced Chevron Lummus Global, a joint venture between CB&I and Chevron, has been awarded a contract by Beowulf Energy Sweden LLC, who recently signed a cooperation agreement with Preem, for the technology license and development of a residue upgrading complex in Lysekil, Sweden. The scope of the contract includes the license of Chevron Lummus Global's LC-Slurry® technology with integrated ISOCRACKING® and ancillary units. Under the agreement, CB&I also will develop a detailed cost estimate and execution plan for the engineering, procurement and construction phase of the project.

"We look forward to this new partnership with Beowulf, as well as continuing our long-standing relationship with Preem," said Daniel McCarthy, President of CB&I's Technology operating group. "This award marks the first LC-Slurry license since adding the maximum residue conversion technology to our CLG portfolio last year."

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. For more information, visit www.CBI.com

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Investors: Scott Lamb, +1 832 513 1068, Scott.Lamb@CBI.com 
Media: Gentry Brann, +1 832 513 1031, Gentry.Brann@CBI.com

For more information, visit www.cbi.com (http://www.cbi.com).

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SOURCE CB&I

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