CB&I to Supply Gas Processing Complex in Angola.

THE WOODLANDS, Texas -- CB&I (NYSE:CBI) has been awarded a lump-sum contract to provide a gas processing and treating complex in Cabinda Province, Angola, for Cabinda Gulf Oil Company Ltd. (CABGOC), a wholly owned Chevron subsidiary. CABGOC operates Block 0 in Angola on behalf of the Cabinda Association, consisting of Sonangol, Total, ENI and CABGOC. The project is valued at approximately US$250 million.

CB&I's scope of work for the project consists of the engineering, procurement, fabrication and construction of a gas processing and treating complex that will help CABGOC eliminate flaring of associated gas and recover hydrocarbon vapors from its oil storage terminal, and produce saleable natural gas liquids (NGLs). The project will include facilities for gas/oil separation, vapor compression, amine treating for acid gas removal, glycol dehydration, refrigeration for NGL recovery, molecular sieve dehydration of hydrocarbon liquids, and liquids fractionation to produce NGLs for export and local consumption. Residual gas will feed three turbines for electricity generation. Completion of the project is planned for summer 2008.

Consistent with CB&I's practice of using local resources and supporting local economies at its project sites worldwide, a portion of the Company's site construction team for this project will be staffed with local Angolan labor.

The Company will also draw upon its worldwide resources for this project. Engineering and procurement will be performed in CB&I's Houston office, equipment modules will be fabricated in CB&I's Texas fabrication facilities, and project management of the site construction activities will be sourced from CB&I's London, Dubai and South African operations.

CB&I executes on average more than 700 projects each year and is one of the world's leading engineering, procurement and construction (EPC) companies, specializing in lump-sum turnkey projects for customers that produce, process, store and distribute the world's natural resources. With more than 60 locations and approximately 11,000 employees throughout the world, CB&I capitalizes on its global expertise and local knowledge to safely and reliably deliver projects virtually anywhere. Information about CB&I is available at www.CBI.com.