TotalEnergies and OQ Entrust Full Containment LNG Contract to CB&I in Oman

CB&I, a wholly owned subsidiary of McDermott, has successfully secured a significant contract from Marsa Liquefied Natural Gas LLC, a joint venture between TotalEnergies and OQ. This contract involves the engineering, procurement, and construction (EPC) of a full containment concrete liquefied natural gas (LNG) storage tank situated in Oman's Port of Sohar.

As part of the project, CB&I will deliver comprehensive turnkey EPC services for a 165,000m3 full containment concrete LNG storage tank and its associated piping to grade. The project will take place in Oman, where CB&I has had an ongoing presence since 1968, with supplementary support from CB&I's Dubai office.

Cesar Canals, President & CEO of CB&I, commented, "With this project, CB&I will play a role in constructing one of the LNG plants with the lowest greenhouse gas emissions intensity ever seen, contributing to Oman's energy transition market. This aligns with our commitment to constructing storage facilities for projects that deliver dependable energy to markets with minimized environmental footprints. Additionally, it sets the stage for similar storage opportunities in the future and underscores our extensive track record of excellence in execution in the Middle East, particularly in Oman."

Construction activities are projected to begin in the fourth quarter of 2024, with an anticipated completion date in 2028.

CB&I considers a significant contract to fall within the range of USD $100 million to $250 million.

As a pioneer in storage facility, tank, and terminal design and construction, CB&I holds a prominent position in the global market. With over 130 years of history and a portfolio encompassing more than 60,000 completed structures, CB&I possesses extensive global expertise and strategically positioned operations. These assets enable CB&I to offer its customers top-tier storage solutions for the most intricate energy infrastructure projects. CB&I operates as a wholly owned unrestricted subsidiary of McDermott.

McDermott stands as a leading, fully integrated provider of engineering and construction solutions for the energy sector. McDermott's clientele relies on its technology-driven approach, meticulously engineered to responsibly harness and convert global energy resources into essential products. From initial concept to final commissioning, McDermott's innovative expertise and capabilities drive forward the next generation of global energy infrastructure, fostering a brighter, more sustainable future for all. Operating across 54 countries, McDermott leverages its locally-focused yet globally-integrated resources, which include over 30,000 employees, a diverse fleet of specialty marine construction vessels, and fabrication facilities spanning the globe. McDermott is dedicated to upholding respect for individuals, the environment, and communities in all our worldwide endeavors. We actively pursue opportunities to support the United Nations Sustainable Development Goals.