Imperial Oil awards CB&I $900MM Kearl Oil Sands contract

Source: CB&I, Imperial Oil

CB&I (NYSE:CBI) has been awarded a contract by Imperial Oil Resources (NYSE:IMO) for engineering, procurement and construction work on the Kearl oil sands project in Alberta, Canada. The value of CB&I's work scope is in excess of $900 million, which includes $500 million of incremental work releases booked prior to 2011. 

CB&I will be responsible for the EPC execution of the bitumen extraction plant and tank farms, as well as the design, supply and construction of additional storage vessels, all of which are expected to be completed in the third quarter of 2012. 

"This award builds on CB&I's proven experience in the Canadian oil sands," said Philip K. Asherman, President and CEO. "We are pleased to have supported Imperial Oil on this important energy project since its inception, and we look forward to expanding our relationship with them into the future." 

Kearl Oil Sands Project

Located 70 kilometers north of Fort McMurray is the Kearl oil sands project, jointly owned between Imperial Oil (operator) and ExxonMobil Canada. It will be one of Canada’s largest open-pit mining operations with regulatory approval for up to 345,000 barrels a day of production.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs