CB&I Awarded Crude Oil Exportation Storage Contract for Vaca Muerta Oil Sur Project in Argentina

THE WOODLANDS, Texas, Jan. 16, 2025 /PRNewswire/ -- CB&I today announced that it has been awarded a significant* contract by VMOS, S.A., for the engineering, procurement, fabrication, and construction (EPC) of 630,000 cubic meters (4 million barrels) of total storage for the Vaca Muerta crude oil exportation facility, located in Punta Colorada, Rio Negro Province, Argentina. Vaca Muerta is one of the largest non-conventional oil and gas reserves in the world and a strategic initiative for Argentina, intended to boost the country's crude oil exports to regional and international markets.

The Vaca Muerta Sur pipeline is expected to span 437 km, transporting oil from the Vaca Muerta formation to a coastal export terminal. The project is being developed by VMOS, a special-purpose midstream oil company led by Argentina's state-owned energy company, YPF, with Pan American Energy, Vista Energy, and Pampa Energía as initial shareholders.

CB&I supported the optimization of the storage facility project from FEED to EPC competition to reduce overall project cost and schedule by adding value engineering so VMOS can begin exportation of crude oil in a timely manner.

"We are excited to be VMOS's storage solutions partner for this critical export infrastructure project in Argentina," said CB&I CEO, Mark Butts. "CB&I brings industry-leading safety, quality, and project execution professionalism to every client we serve. We look forward to delivering on our commitments to YPF and the VMOS-associated project partners and shareholders."

Construction activities are expected to begin in the second quarter of 2025. The project is targeted for completion in the fourth quarter of 2026.

*CB&I defines a significant contract as between USD $100 million and $250 million.

About CB&I
CB&I is the world's leading designer and builder of storage facilities, tanks, and terminals. With more than 60,000 structures completed throughout its 135+ year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. CB&I is owned by a consortium of financial investors led by Mason Capital Management LLC. To learn more, visit www.cbi.com. 

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SOURCE CB&I STS Delaware LLC