Chicago Bridge & Iron Company N.V.(CBI) recently received a front end engineering and design (FEED) contract from Groupement Isarene, for developing the Ain Tsila gas field in Algeria.
Groupement Isarene is a joint venture (JV) between three companies – Sonatrach in Algeria, Petroceltic International plc in Dublin and Enel Trade S.p.A based in Italy.
The contract requires CBI to extend FEED services to the gas plant, three related pipeline and well collection. The plant, with a daily generation capacity of 420 million cubic feet of liquefied petroleum gas (LPG), will comprise a range of units for complete processing and pumping of gas. These include a water separation plant for processing the gas, equipment required for condensation and recovery of the LPG, along with units for compressing the gas. Additionally, the plant will have pumps for exporting gas and a provision for metering of the generated gas.
CBI had recently received another contract for the engineering and procurement of equipment and process modules for a new natural gas-processing plant in Oklahoma. The contract was awarded by Enable Partners LLC, part of Enable Midstream Partners (ENBL).
CBI is among the world’s leading integrated engineering, procurement and construction service provider and major process technology licensors, providing comprehensive solutions to customers, primarily in the energy and natural resource industries. The company’s efficiency in delivering such advanced services will significantly benefit this facility, while this project will also serve to broaden CBI’s global footprint.
CBI currently carries a Zacks Rank #3 (Hold). Better-ranked companies in the energy sector include ITT Corp. (ITT) and VSE Corp. (VSEC). Both hold a Zacks Rank #2 (Buy).
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