CB&I Wins Contract from Occidental

CBI Eastern Anstalt, the primary Middle Eastern subsidiary of Chicago Bridge & Iron Company N.V., has been awarded a lump sum turnkey contract by Occidental Petroleum of Qatar for the engineering, procurement and construction of new oil/water separation facilities offshore of Qatar.

Known as the PS-1 Produced Water Handling Facilities (PWHF) on Halul Island, CB&I will have turnkey responsibility for the engineering, procurement, installation and commissioning (EPIC) of new oil/water separation facilities for crude oil and produced water from Occidental's offshore PS-1 production complex. The facilities will be able to process up to 435,000 barrels per day of liquids. The project involves the construction of two 150,000 barrel capacity separation tanks, crude oil pumping and fiscal metering facilities, pumping and filtration facilities, a remote flare system, a local equipment and control room and associated facilities. CBI Eastern Anstalt will be responsible for the engineering, supply and on-site construction of the facilities. Completion of the project is expected in the fall of 2003.

The Halul Island PWHF Project is part of Occidental's ongoing development of the Idd El Shargi North Dome and South Dome offshore oil fields located approximately 80 kilometers northeast of Doha in the territorial waters of the State of Qatar.

"We are pleased Occidental has awarded this EPIC work to CB&I," stated Gerald M. Glenn, Chairman, President and CEO. "CB&I first executed work in Qatar in 1969. Since then, we have accomplished dozens of projects in country and we are proud to have played an important role in the development and expansion of the Qatari oil and gas industry."