The project is expected to begin construction in the second quarter of 2025 (Q2 2025), with completion targeted for Q4 2026. Credit: Mike Mareen/Shutterstock.

CB&I has been awarded a contract for the engineering, procurement, fabrication and construction (EPFC) of new storage facilities integral to the Vaca Muerta crude oil exportation facility in Punta Colorada, Rio Negro province, Argentina.

The contract was awarded by VMOS, a special-purpose midstream oil company led by state-owned energy company YPF, with Pan American Energy, Vista Energy and Pampa Energía as the initial shareholders.

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The project involves building storage facilities with a total capacity of 630,000m³, equivalent to four million barrels.

This initiative aims to boost Argentina’s crude oil exports from the Vaca Muerta formation, which ranks among the “largest” unconventional oil and gas reserves globally, to strengthen the nation’s position in regional and global markets.

CB&I was involved in the project from the front-end engineering design to the EPFC phase to optimise the storage facility’s design, a strategy aimed at reducing costs and schedules, enabling VMOS to commence crude oil exports promptly.

CB&I CEO Mark Butts said: “We are excited to be VMOS’ storage solutions partner for this critical export infrastructure project in Argentina. We look forward to delivering on our commitments to YPF and the VMOS-associated project partners and shareholders.”

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Construction is set to commence in Q2 2025, with the project’s completion targeted for Q4 2026.

Earlier this month, Técnicas Reunidas secured a $440m (€427.03m) contract to provide engineering and management services for the crude oil storage and exportation facility.

In December 2024, Argentina’s YPF approved the Vaca Muerta Sur pipeline, which will initially transport 550,000 barrels per day (bpd), with potential expansion to 700,000bpd.

The potential 437km pipeline will transport oil from the Vaca Muerta formation to the coastal export terminal.