HOUSTON, TX — (Marketwire) — 09/08/11 — Willbros Group, Inc. (NYSE: WG) announced today that its Downstream segment has been awarded a multi-year contract to provide project engineering services at the HOVENSA Refinery in St. Croix, U.S. Virgin Islands. Willbros will provide front-end engineering and design and detailed design for multiple projects throughout the facility. The work will be primarily performed with a team located at the client–s facility with additional support provided by the Company–s downstream engineering offices in Louisiana.
Randy Harl, President and Chief Executive Officer, commented, “Willbros has provided quality services to HOVENSA for years. We are pleased that HOVENSA recognizes our successful history and we will continue this relationship for many years to come. Additionally, this award complements the alliance agreements we have in Trinidad and Aruba and furthers our objective to grow our revenue base with more recurring services. We look forward to working with HOVENSA and are privileged that they have selected us for this important assignment.”
Willbros Group, Inc. is a global contractor specializing in energy infrastructure serving the oil, gas and power industries. Our offerings include engineering, procurement and construction (individually or as an integrated “EPC” service offering), refinery turnarounds, ongoing maintenance and other specialty services to industry and government entities worldwide. For more information on Willbros, please visit our web site at .
HOVENSA operates a world-class refinery on the Caribbean island of St. Croix in the United States Virgin Islands. This refinery is one of the thirty largest in the world with a crude oil processing capacity of 350,000 barrels per day (BPD). HOVENSA operates its facilities on 2,000 acres of land on the south shore of St. Croix and employs a culturally diverse community with approximately 2,500 direct and contract employees from countries circling the globe.
This announcement contains forward-looking statements. All statements, other than statements of historical facts, which address activities, events or developments the Company expects or anticipates will or may occur in the future, are forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from these statements, including the potential for additional investigations; disruptions to the global credit markets; the global economic downturn; fines and penalties by government agencies; new legislation or regulations detrimental to the economic operation of refining capacity in the United States; the identification of one or more other issues that require restatement of one or more prior period financial statements; contract and billing disputes; the integration and operation of InfrastruX; the possible losses arising from the discontinuation of operations and the sale of the Nigeria assets; the existence of material weaknesses in internal controls over financial reporting; availability of quality management; availability and terms of capital; changes in, or the failure to comply with, government regulations; ability to remain in compliance with, or obtain waivers under, the Company–s loan agreements and indentures; the promulgation, application, and interpretation of environmental laws and regulations; future E&P capital expenditures; oil, gas, gas liquids, and power prices and demand; the amount and location of planned pipelines; poor refinery crack spreads; delay of planned refinery outages and upgrades; the effective tax rate of the different countries where the Company performs work; development trends of the oil, gas, power, refining and petrochemical industries; and changes in the political and economic environment of the countries in which the Company has operations; as well as other risk factors described from time to time in the Company–s documents and reports filed with the SEC. The Company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT:
Michael W. Collier
Vice President Investor Relations Sales & Marketing
Willbros
713-403-8038
Connie Dever
Director Strategic Planning
Willbros
713-403-8035