CB&I (NYSE:CBI) today announced it has been awarded contracts valued in excess of $90 million by NefteGazIndustriya, LLC, through project developer MAVEG GmbH, to provide the technology licenses and front end engineering and design (FEED) services for the Afipsky Oil Refinery in Krasnodar, Russia.
CB&I's project scope includes FEED development for multiple new 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, as well as hydrogen and sulfur units licensed by CB&I and other associated units. CB&I is also providing technology and FEED services for a crude distillation/vacuum distillation/visbreaker complex, which will utilize the Shell Soaker Visbreaking technology jointly licensed by CB&I and Shell.
"CB&I has been selected to provide both the technology licenses and the FEED services for this project, further building upon the company's proven expertise in the refining industry," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "CB&I appreciates NefteGazIndustriya's confidence in our ability to deliver results and is fully committed to meeting our client's expectations on this important project."