KBR Awarded Saudi Aramco Offshore Project Management Services Contract
(Thomson Reuters ONE) -
HOUSTON - March 16, 2015 - KBR, Inc. (NYSE: KBR) announced today that it has
been awarded a project management contract by Saudi Aramco to provide project
management services for Saudi Aramco's offshore program.
Under the terms of this six-year contract, KBR will provide project management
and engineering services for existing and new offshore facilities to maintain
and increase crude production levels to meet Saudi Aramco's maximum sustained
capability for production under the company's capital program. KBR's Saudi joint
venture company, KBR-AMCDE, will undertake all in-kingdom work scopes while
KBR's Houston and London operations centers will execute all out-of-kingdom
scopes. Additionally, KBR-AMCDE will develop an in-kingdom center of engineering
excellence to develop and train Saudi engineers.
"This is a significant milestone in our relationship with Saudi Aramco in the
offshore arena and complements our existing work in Kingdom on the Jazan PMC and
GES+ contracts," said Stuart Bradie, KBR President and CEO. "We look forward to
helping Saudi Aramco achieve its goal to develop an in-kingdom center of
offshore engineering excellence and to maintain their production of oil and
gas."
KBR has had a strong presence in the Middle East for decades, working on several
major petrochemical projects in Saudi Arabia, including providing Saudi Aramco
with front end engineering and design and project management services for the
Jazan Refinery, the Yanbu Refinery and the Shaybah NGL program.
Expected revenue from the contract will be included in the first quarter of
2015 backlog for KBR's Engineering and Construction segment.
About KBR, Inc.
KBR, Inc. is a global technology, engineering, procurement and construction
company serving the hydrocarbons and government services industries, employing
around 27,000 people worldwide with customers in more than 70 countries and
operations in 40 countries across three distinct global businesses:
* Technology & Consulting, including proprietary technology in refining,
ethylene, ammonia and fertilizers, and gasification; and niche consulting
and know-how through Granherne/Energo and GVA;
* Engineering & Construction, including Upstream Oil & Gas; LNG/GTL;
Downstream Petrochemicals and Chemicals; and differentiated EPC; and,
* Government Services, including program management and long term annuity
contracts.
KBR is proud to work with its customers across the globe to provide technology,
value-added consulting services and integrated EPC skills to ensure a consistent
project delivery with predictable results. At KBR, we deliver.
Visit www.kbr.com.
Forward Looking Statement
The statements in this press release that are not historical statements,
including statements regarding future financial performance, 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.
For further information, please contact:
Investors
Zac Nagle
Vice President, Investor Relations
713-753-5082
Investors(at)kbr.com
Media
Marit Babin
Director, Global Communications & Government Relations
713-753-3800
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#1903590]
Unternehmensinformation / Kurzprofil:
Datum: 16.03.2015 - 14:14 Uhr
Sprache: Deutsch
News-ID 378758
Anzahl Zeichen: 6386
contact information:
Town:
HOUSTON
Kategorie:
Business News
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