The company will build two monobuoys that will be used by Petroterminales de Panama’s supertankers in their facilities in Bocas del Toro.
The first of the two structures weighing 45 tons each will be ready by mid-October.
"Monobuoys are used to stabilize oil tankers that cannot go as far as the dock where oil is received or sent due to lack of port depth", explained Prensa.com.
Petroterminal de Panama awarded a contract in excess of $100 million to CB&I, to engineer, procure and construct the Phase 2 expansion of the Trans-Panama Pipeline facilities.
The work scope includes the design and construction of 5.4 million barrels of crude oil storage and the associated civil, mechanical and electrical work at PTP's terminal facilities in Chiriqui Grande on Panama's Atlantic coast, and Puerto Armuelles on the Pacific coast.
The road joining Bocas del Toro to Chiriquí will cost $75 million to repair and construction would take two and one-half years.
The current route is considered dangerous because of the constant landslides and the geological and subterranean water seepage problems that it has.
According to Prensa.com, Benjamin Colamarco, Public Works Minister, indicated: "This route is very dangerous and it may be convenient to build a new road through another route."
British Petroleum is negotiating with Petroterminales of Panama to move crude oil from the Caribbean coast in Bocas del Toro to the Pacific area of Chiriqui using the pipeline.
Mauricio Ruiz of British Petroleum (BP) said yesterday that the project is very important for the company because they have had to make adjustments as the world supply and demand dynamic changes, since the oil for the refineries on the US east coast no longer come from Alaska but from Western Africa.