KBR Awarded FEED Services Contract for Petrokemya Butadiene Unit Expansion Project in Saudi Arabia
(Thomson Reuters ONE) -
HOUSTON - November 6, 2014 - KBR, Inc. (NYSE: KBR) announced today that it has
been awarded a front-end engineering design (FEED) contract by Saudi Basic
Industries Corporation (SABIC) for the debottlenecking and expansion of its
Petrokemya Butadiene Extraction Plant in Al Jubail, Saudi Arabia.
Arabian Petrochemical Company (Petrokemya), a wholly-owned affiliate of SABIC,
is one of the largest manufacturing sites in Al Jubail. The site has an
installed capacity of approximately 5.15 million metric tons per year of
petrochemicals including olefins, PVC/VCM, polystyrene and polyethylene plants
in addition to utilities and steam generation.
The butadiene extraction plant was built in 1993 with a capacity of 123 kilotons
per year. Petrokemya plans to significantly expand the capacity of the
plant. This expansion is part of Petrokemya and SABIC's vision and strategic
business plan with a view of growing market demands in the downstream
petrochemical market.
"KBR is delighted to further strengthen our more than 20-year relationship with
SABIC and our commitment to the Kingdom of Saudi Arabia through this strategic
project," said Stuart Bradie, KBR's President and Chief Executive Officer. "This
contract award for the Petrokemya Butadiene Debottleneck Project demonstrates
KBR's world-class petrochemical execution and delivery capabilities within the
Kingdom of Saudi Arabia."
Expected revenue from the contract was included in the third quarter 2014
backlog of unfilled orders for the Hydrocarbons segment. The contract value was
not disclosed.
About KBR
KBR is a global engineering, construction and services company supporting the
energy, hydrocarbons, chemicals, industrial, civil infrastructure, minerals,
government services and commercial markets. For more information, visit
www.kbr.com.
Forward Looking Statement
The statements in this press release that are not historical statements,
including statements regarding future financial performance and backlog
information, are forward-looking statements within the meaning of the federal
securities laws. These statements are subject to numerous risks and
uncertainties, many of which are beyond the company's control that could cause
actual results to differ materially from the results expressed or implied by the
statements. These risks and uncertainties include, but are not limited to: the
outcome of and the publicity surrounding audits and investigations by domestic
and foreign government agencies and legislative bodies; potential adverse
proceedings by such agencies and potential adverse results and consequences from
such proceedings; the scope and enforceability of the company's indemnities from
its former parent; changes in capital spending by the company's customers; the
company's ability to obtain contracts from existing and new customers and
perform under those contracts; structural changes in the industries in which the
company operates, escalating costs associated with and the performance of fixed-
fee projects and the company's ability to control its cost under its contracts;
claims negotiations and contract disputes with the company's customers; changes
in the demand for or price of oil and/or natural gas; protection of intellectual
property rights; compliance with environmental laws; changes in government
regulations and regulatory requirements; compliance with laws related to income
taxes; unsettled political conditions, war and the effects of terrorism; foreign
operations and foreign exchange rates and controls; the development and
installation of financial systems; increased competition for employees; the
ability to successfully complete and integrate acquisitions; and operations of
joint ventures, including joint ventures that are not controlled by the company.
KBR's most recently filed Annual Report on Form 10-K/A, any subsequent Form 10-
Qs and 8-Ks, and other Securities and Exchange Commission filings discuss some
of the important risk factors that KBR has identified that may affect the
business, results of operations and financial condition. Except as required by
law, KBR undertakes no obligation to revise or update publicly any forward-
looking statements for any reason.
Contact:
Investors
Zac Nagle
Vice President, Investor Relations
713-753-5082
Investors(at)kbr.com
Media
Richard Goins
Director, Communications
713-751-9471
Mediarelations(at)kbr.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: KBR, Inc. via GlobeNewswire
[HUG#1869032]
Unternehmensinformation / Kurzprofil:
Datum: 06.11.2014 - 14:00 Uhr
Sprache: Deutsch
News-ID 350429
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