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CB&I Announces LNG Award in Australia

THE WOODLANDS, Texas, March 18, 2014 /PRNewswire/ -- CB&I (NYSE: CBI) today announced it has been awarded a contract by Bechtel valued in excess of US$625 million (approximately A$690 million) to provide structural, mechanical and piping construction work for all outside battery limits modules and associated units for the Chevron-operated Wheatstone Project at Ashburton North in Western Australia.

"CB&I is proud of its 75-year history in Australia, where we have an excellent safety performance and a successful LNG track record," said Patrick K. Mullen, President of CB&I's Engineering, Construction and Maintenance operating group. "This award builds on CB&I's involvement in many of the major LNG and other oil and gas projects in this important region of the world."

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. With 125 years of experience and the expertise of approximately 55,000 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

About the Wheatstone Project
The Chevron-operated Wheatstone Project is one of Australia's largest resource projects. Located at Ashburton North, 12 kilometres west of Onslow in Western Australia, the project will consist of two LNG trains with a combined capacity of 8.9 million tonnes per annum and a domestic gas plant. The Wheatstone Project is a joint venture between Australian subsidiaries of Chevron, Apache Corporation, Kuwait Foreign Petroleum Exploration Company (KUFPEC), Shell and Kyushu Electric Power Company (Kyushu) together with PE Wheatstone Pty Ltd (part owned by TEPCO).

Important Information For Investors And Shareholders

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding CB&I and represents our expectations and beliefs concerning future events. These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties. When considering any statements that are predictive in nature, depend upon or refer to future events or conditions, or use or contain words, terms, phrases or expressions such as "achieve," "forecast," "plan," "propose," "strategy," "envision," "hope," "will," "continue," "potential," "expect," "believe," "anticipate," "project," "estimate," "predict," "intend," "should," "could," "may," "might" or similar forward-looking statements, we refer you to the cautionary statements concerning risk factors and "Forward-Looking Statements" described under "Risk Factors" in Item 1A of our Annual Report filed on Form 10-K filed with the SEC for the year ended December 31, 2013, and any updates to those risk factors or "Forward-Looking Statements" included in our subsequent Quarterly Reports on Form 10-Q filed with the SEC, which cautionary statements are incorporated herein by reference.

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.

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