ABERDEEN, United Kingdom, July 29, 2026 /PRNewswire/ -- CB&I's Asset Solutions business (formerly part of Petrofac) has secured a new contract with Cosmo E&P Albahriya Limited ("Cosmo") in the United Arab Emirates (UAE).

The well engineering services contract will support drilling, engineering, planning and operational activities for Offshore Block 4, Abu Dhabi, which was exclusively awarded to Cosmo in Abu Dhabi's second competitive bidding round for the exploration, development and production of oil and gas.

The award strengthens Asset Solutions' position in the Middle East and solidifies new relationships with key regional operators. With shared goals of prioritising safe, stable, and environmentally conscious production, CB&I's UAE-based team will draw on its local and global experience of delivering innovative well engineering solutions.

John Pearson, Chief Operating Officer of CB&I Asset Solutions, commented: "The UAE continues to be a growth market for our Asset Solutions business as part of our strategy to expand services in selected geographies. This award is testament to our respected wells capability and track record in the region, alongside our commitment to safe and efficient service delivery. We look forward to partnering with Cosmo to support their goals for the block."

Hisato Ishii, General Manager of Cosmo E&P Albahriya Limited, commented: "We are pleased to work with CB&I for our exploration journey in Offshore Block 4. We value CB&I's expertise and capability to support our drilling, engineering, planning and operational activities, and look forward to collaborating to execute the campaign safely and efficiently."

About CB&I

CB&I delivers integrated storage and asset‑management solutions that help customers operate safely, reliably, and efficiently across the lifecycle of their facilities. Through our two global business units - Storage Solutions, the world leader in tanks, terminals, and storage systems, and Asset Solutions, a leading provider of operations, management, wells and decommissioning services - we combine technical excellence with execution capability to extend asset life, optimize performance, and maximize value. CB&I is owned by a consortium of financial investors led by Mason Capital Management LLC. To learn more, visit www.cbi.com.

Forward-Looking Statements

CB&I cautions that statements in this communication that are forward-looking, and provide other than historical information, involve risks, contingencies, and uncertainties. These forward-looking statements include, among other things, statements about the expected timing and execution of projects, and statements that describe our business strategy, outlook, objectives, plans, intentions, or goals. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are based on various underlying assumptions and are subject to numerous risks, contingencies, and uncertainties, many of which are beyond our control, including, among others: adverse changes in the markets in which we operate or in credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope, or timing of contracts, contract cancellations, change orders, and other modifications or actions by our customers and other business counterparties; changes in industry norms or codes or applicable laws; actions by lenders, other creditors, customers, and other business counterparties of CB&I; and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materializes, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of CB&I's management as of the date hereof. Except to the extent required by applicable law, CB&I undertakes no obligation to update or revise any forward-looking statement.

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