Chicago Bridge & Iron Company N.V. (CBI) announced the approval by Exxon Mobil Corp.'s (XOM) Esso Highlands Ltd., of the engineering, procurement and construction contract for Papua New Guinea LNG Project's gas conditioning plant, pending final project authorizations.
CB&I specified that the work for this contract will be performed by CBI Clough JV, a joint venture between CB&I and Clough. CB&I said that estimated value of the contract is in excess of $1 billion. CBI Clough JV expects about 1,200 workers to be employed on this work during peak construction.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.