SOURCE: Willbros Group, Inc.

Willbros Group, Inc.

September 29, 2010 06:00 ET

Willbros Selected for EPC Award

HOUSTON, TX--(Marketwire - September 29, 2010) -  Willbros Group, Inc. (NYSE: WG) announced today that a unit of its Downstream Oil & Gas segment has been selected by Diamond Shamrock Refining Company to provide engineering, procurement and construction (EPC) of the new Flare Gas Recovery Facilities at their Valero McKee Refinery located in Sunray, Texas. The project is valued at approximately $14 million.

Jim Gibson, President, Willbros Downstream Oil & Gas, commented, "We are pleased with this award and look forward to executing this critical project for the Valero McKee Refinery. Through our InServ and Wink Engineering business units, we have the ability to provide integrated Project Management, Engineering, Procurement and Construction solutions that add value for our customers. We view this assignment as an indication that our service offering is aligned with our customer needs. We will continue to provide the highest levels of safety, quality and schedule certainty to all our customers."

Willbros Group, Inc. is an independent contractor serving the oil, gas, power, refining and petrochemical industries, providing engineering, construction, turnaround, maintenance, life cycle extension services, facilities development and operations services to industry and government entities worldwide. For more information on Willbros, please visit our web site at www.willbros.com.

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; 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 Information

  • CONTACT:
    Michael W. Collier
    Vice President Investor Relations
    Sales & Marketing
    Willbros
    713-403-8038

    Connie Dever
    Director Strategic Planning
    Willbros
    713-403-8035