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From: Dennis Roth	7/27/2011 10:07:28 AM
	1 Recommendation Read Replies (1) of 206150

Engineering & Construction Biweekly Industry Overview CBI Wins $2.3B Gorgon Contract; Cheniere to Spend $6.0B to Expand Louisiana LNG Facility 27 July 2011 ¦ 48 pages citigroupgeo.com Commentary in This Issue — CBI announced that it has been awarded a contract worth $2.3 billion for the mechanical, electrical and instrumentation work on the Gorgon Project on Barrow Island, Western Australia. FLR secured the engineering, procurement, construction and management contract for the utilities and offsites package for the Ras Tanura Project worth in excess of $2 billion. Iraq initialed a final contract with Royal Dutch Shell and Mitsubishi in a $2 billion deal to capture flared gas at southern oilfields. Lastly, the U.S. solar power sector had a strong 2010, and 2011 could be even stronger, according to a recently released ranking of U.S. utility-scale solar power from the Solar Electric Power Association... ...Investment Opportunities — For investors willing to look beyond the near-term headwinds and able to sustain volatility, we believe E&Cs with exposure to developing economies and the Oil & Gas end market offer a compelling risk reward proposition. We recommend investors focus on: CBI, FLR, KBR and MDR.

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