The Shaw Group Inc. (NYSE: SGR) today announced its Energy & Chemicals
Group has signed two contracts with the Republic of Iraq’s Ministry of
Oil to provide feasibility studies and front end engineering and design
(FEED) for two grassroots 150,000 barrels per day refineries near the
cities of Maissan and Kirkuk in Iraq.
The FEED work includes all process units, offsite facilities and
utilities for both refineries. The new refineries are part of Iraq’s
development program and will address the country’s demand for fuels,
alleviate domestic shortages and reduce imports.
The value of Shaw’s contracts, which will be included in the company’s
fourth quarter fiscal year 2009 backlog of unfilled orders, was not
disclosed.
“This is the first significant project for Shaw’s Energy & Chemicals
Group in Iraq and will further enforce Shaw’s commitment to the Middle
East region,” said Lou Pucher, president of Shaw’s Energy & Chemicals
Group.
In March 2009, Shaw opened a new office in Abu Dhabi, United Arab
Emirates, to support its increasing activity throughout the Middle East.
Shaw has operated an ASME certified pipe fabrication facility in Bahrain
since 1994.
The Shaw Group Inc. is a leading global provider of technology,
engineering, procurement, construction, maintenance, fabrication,
manufacturing, consulting, remediation and facilities management
services for government and private sector clients in the energy,
chemicals, environmental, infrastructure and emergency response markets.
A Fortune 500 company with fiscal year 2008 annual revenues of $7
billion, Shaw is headquartered in Baton Rouge, La., and employs
approximately 26,000 people at its offices and operations in North
America, South America, Europe, the Middle East and the Asia-Pacific
region. Shaw is the power sector industry leader according to
Engineering News-Record’s list of Top 500 Design Firms. For further
information, please visit Shaw’s Web site at www.shawgrp.com.
The Private Securities Litigation Reform Act of 1995 provides a “safe
harbor” for certain forward-looking statements. The statements contained
herein that are not historical facts (including without limitation
statements to the effect that the Company or its management “believes,”
“expects,” “anticipates,” “plans” or other similar expressions) and
statements related to revenues, earnings, backlog or other financial
information or results are forward-looking statements based on the
Company’s current expectations and beliefs concerning future
developments and their potential effects on the Company. There can be no
assurance that future developments affecting the Company will be those
anticipated by the Company. These forward-looking statements involve
significant risks and uncertainties (some of which are beyond our
control) and assumptions and are subject to change based upon various
factors. Should one or more of such risks or uncertainties materialize,
or should any of our assumptions prove incorrect, actual results may
vary in material respects from those projected in the forward-looking
statements. The Company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. A description of some of the
risks and uncertainties that could cause actual results to differ
materially from such forward-looking statements can be found in the
Company’s reports and registration statements filed with the Securities
and Exchange Commission, including its Form 10-K and Form 10-Q reports,
and on the Company’s Web site under the heading “Forward-Looking
Statements.” These documents are also available from the Securities and
Exchange Commission or from the Investor Relations department of Shaw.
For more information on the company and announcements it makes from time
to time on a regional basis, visit our Web site at www.shawgrp.com.
The Shaw Group Inc.
Financial Contact:
Chris
Sammons, 225-932-2546
chris.sammons@shawgrp.com
or
Media
Contact:
Gentry Brann, 225-987-7372
gentry.brann@shawgrp.com
