KBR Awarded Eurasian FLNG FEED Contract
(Thomson Reuters ONE) -
HOUSTON - June 1, 2015 - KBR, Inc. (NYSE: KBR) announced today it has been
awarded a near-shore floating LNG Front End Engineering Design (FEED) contract
by Lloyds Energy Ltd.
Under this contract, KBR will provide integrated topsides and hull engineering
design services for a nominal 2.5 million TPA floating natural gas liquefaction
plant (FLNG). Start-up of the project facilities is expected to take place in
2019.
All LNG processing facilities, together with the associated utilities and power
generation, will be located on the FLNG barges, which will be moored at the end
of a new single jetty, about 3.5km in length. LNG storage will be in the barge
hulls and loading will be via a separate LNG carrier berth at the end of the
jetty.
"This is a significant milestone in KBR's FLNG industry strategy, and our
relationship with Lloyds Energy complements our existing FEED experience for the
Coral South FLNG project in Mozambique," said Jan Egil Braendeland, KBR
President, Engineering & Construction for the Europe, Eurasia & Africa (EEA)
region. "We look forward to working with Lloyds Energy so that together we may
achieve their goal of developing strategically important near-shore FLNG
projects across a range of locations."
Stuart Bradie, KBR President and CEO said, "Because of KBR's strong position
within the LNG market, the company can satisfy the needs of our LNG customers,
regardless of the phase of the project. KBR designs and manages projects, from
concept through to construction and commissioning. This expertise underpins why
KBR is responsible for one third of the world's operating LNG capacity, across a
range of locations in Africa, Asia, the Middle East and Australia."
"The ultimate objective is to establish a program of multiple near-shore FLNG
projects, based on one single and original design", said Konstantinos
Mitropoulos, Lloyds Energy CEO.
"Our vision at Lloyds Energy is to successfully deliver, through near-shore FLNG
technology, a viable alternative to traditional and capital intensive onshore
LNG developments," Mitropoulos said. "Lloyds Energy is extremely pleased to be
working with KBR on this exciting project. Both companies have experienced FLNG
teams with full asset-cycle exposure, from concept development through to long
term asset management. We are confident that we have chosen the best contractors
in the industry to support this project."
The contract value was not disclosed. Expected revenue from the contract will be
included in KBR's second quarter 2015 backlog of unfilled orders for its
Engineering and Construction business lines. Work has already commenced and is
expected to be completed in the first half of the first quarter 2016.
About KBR, Inc.
KBR, Inc. is a global technology, engineering, procurement and construction
company serving the hydrocarbons and government services industries, employing
about 25,000 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 Oil & Gas, 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 http://www.kbr.com.
Forward Looking Statement
This press release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements include statements
regarding our plans, objectives, goals, strategies, future events, future
financial performance and backlog information and other information that is not
historical information. When used in this presentation, the words "estimates,"
"expects," "anticipates," "projects," "plans," "intends," "believes,"
"forecasts" or future or conditional verbs such as "will," "should," "could," or
"may," and variations of such words or similar expressions are intended to
identify forward-looking statements. All forward-looking statements are based
upon our current expectations and various assumptions. Our expectations,
beliefs, and projections are expressed in good faith, and we believe there is a
reasonable basis for them. However, there can be no assurance that management's
expectations, beliefs, and projections will be achieved. There are numerous
risks and uncertainties, many of which are beyond our control, that could cause
actual results to differ materially from the forward-looking statements
contained in this presentation. These risks and uncertainties include, but are
not limited to: current or future economic conditions; our ability to obtain and
perform under contracts from existing and new customers, including the U.S.
Government; exposure to cost overruns, operating cost inflation and potential
liability claims and contract disputes; access to trained engineers and other
skilled workers; risks relating to operating through joint ventures and
partnerships; risks inherent in doing business internationally; potential tax
liabilities; maritime risks; changes in the demand for our services and
increased competition; protection of intellectual property rights; risks
associated with possible future acquisitions; risks related to our information
technology systems; impairment of goodwill and/or intangible assets; reduction
or reversal of previously recorded revenues; risks relating to audits and
investigations, including by governments; compliance with laws and regulations,
and changes thereto, including those relating to the environment, trade, exports
and bribery; our creditworthiness and ability to comply with the financial
covenants in our credit agreement; and other risk factors discussed in our most
recently filed Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other
Securities and Exchange Commission filings. All forward-looking statements
attributable to us, or persons acting on our behalf, apply only as of the date
made and are expressly qualified in their entirety by the cautionary statements
in this presentation. Except as required by law, we undertake no obligation to
revise or update forward-looking statements to reflect events or circumstances
that arise after the date made or to reflect the occurrence of unanticipated
events.
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#1925207]
Unternehmensinformation / Kurzprofil:
Datum: 01.06.2015 - 14:01 Uhr
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News-ID 397216
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