Imperial Oil has awarded CB&I (NYSE:CBI) an additional US$90 million of work on the Kearl oil sands project in Alberta, Canada. CB&I's scope of work includes the engineering, procurement and construction of a bitumen extraction unit and multiple storage tanks.
CB&I was contracted in early 2008 by Imperial Oil to begin front-end engineering and construction execution planning on the Kearl oil sands project. Imperial Oil has since awarded CB&I incremental work releases totaling approximately US$500 million, including the most recent US$90 million fourth quarter 2010 release announced today. Previous awards have been included in CB&I’s quarterly new awards totals.
"We look forward to ongoing work as we support Imperial Oil in the development of this world-class project that will help meet North America’s future energy demands,” said Philip K. Asherman, President and CEO. “Our work on the Kearl project builds on our 97-year history in Canada and our extensive experience working in the Canadian oil sands, dating back to 1966.”