Aegion Awarded Offshore Shell Project

ST. LOUIS, MO, December 16, 2011 – Aegion Corporation (Nasdaq Global Select Market: AEGN) announced today that its subsidiary, The Bayou Companies, LLC, has been awarded a contract to coat approximately 80 miles of 16-inch and 18-inch diameter oil and gas pipelines for the Shell Mars B deep water development. 

In January 2012, Bayou will begin inner-diameter coating, outer-diameter coating, concrete weight coating and anode and buckle arrestor installation for the project. The Mars B development, which includes “Olympus,” Shell’s second tension leg platform on the prolific Mars field, will export oil and gas to West Delta 143, a hub facility for deep water oil and gas production.  At this facility, the pipeline will tie into an existing pipeline that will then transport the oil and gas into Fourchon, Louisiana. 

Bayou’s previous experience completing deepwater projects for Shell includes the fabrication of pipeline end terminations in some of the deepest pipelines in the world and the internal and external fusion bond epoxy coating of water injection lines, flow lines and export lines.  These coatings provide corrosion protection to steel pipelines operating in a saltwater environment.

Dorwin Hawn, Senior Vice President of Aegion’s Energy & Mining Group, said, “Bayou has worked with Shell in the past and we look forward to this opportunity to provide protective coatings on this significant project.  Our logistics capabilities in New Iberia, Louisiana, which include the ability to simultaneously load barges at four sites, will enable us to effectively manage this project.  In addition, Bayou recently achieved ISO certification.  We believe our improved processes and quality controls will provide additional benefit to Shell throughout this project.” 

About Aegion Corporation
Aegion Corporation is a global leader in infrastructure protection, providing proprietary technologies and services to protect against the corrosion of industrial pipelines and for the rehabilitation and strengthening of sewer, water, energy and mining piping systems and buildings, bridges, tunnels and waterfront structures.  More information about Aegion can be found on its internet site at www.aegion.com.

About The Bayou Companies, LLC
The Bayou Companies, LLC, a subsidiary of Aegion Corporation, is a leading provider of cost-effective solutions to onshore and offshore energy and infrastructure companies primarily in North America and the Gulf of Mexico.  Bayou’s products and services include internal and external pipeline coating, lining, weighting and insulation. Bayou also provides specialty fabrication and services for offshore deepwater installations, including project management and logistics.  More information about Bayou can be found on its internet site at www.bayoucompanies.com. 

Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements.  We make forward-looking statements in this new release that represent our beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to us and on management’s beliefs, assumptions, estimates or projections and are not guarantees of future events or results.  When used in this document, the words, “anticipate,” “estimate,” “believe,” “plan,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements.  Such statements are subject to known and unknown risks, uncertainties and assumptions, including those referred to in the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2010, as filed with the Securities and Exchange Commission under the name Insituform Technologies, Inc. on February 28, 2011, and in our subsequent quarterly reports on Form 10-Q.  In light of these risks, uncertainties and assumptions, the forward-looking events may not occur.  In addition, our actual results may vary materially from those anticipated, estimated, suggested or projected.  Except as required by law, we do not assume a duty to update forward-looking statements, whether as a result of new information, future events or otherwise.  Investors should, however, review additional disclosures made by us from time to time in its periodic filings with the Securities and Exchange Commission.  Please use caution and do not place reliance on forward-looking statements.  All forward-looking statements made by us in this news release are qualified by these cautionary statements. 

Aegion™, Bayou™ and the Aegion™ logo are the trademarks of Aegion Corporation and its affiliates.

For more information, contact:
David F. Morris
Senior Vice President and Chief Administrative Officer
636-530-8000