KBR Awarded FEED Contract for Oman LNG's Debottlenecking Project

PRNewswire 15-May-2019 5:52 AM

HOUSTON, May 15, 2019 /PRNewswire/ -- KBR, Inc. (NYSE:KBR) announced today it has been awarded a Front End Engineering Design (FEED) contract by Oman LNG L.L.C for the debottlenecking of their facility at Sur in the Sultanate of Oman. 

Under the terms of the contract, KBR will provide FEED services for the debottlenecking project to increase production at its world-class plant in Sur.  This FEED stipulates KBR performing full FEED services including licenser and vendor management and associated services.

"This project builds on KBR's extensive track record of developing and implementing LNG projects and providing solutions to complex developments around the world," said Jay Ibrahim, KBR President, Energy Solutions - Services.

KBR will act as an extension to Oman LNG's project team and help manage the overall execution of the project including the management of the supply and ensure all areas of compliance and safety are adhered to.  The contract underpins Oman LNG's robust commitment towards knowledge sharing and boosting staff competency in dealing with such complex projects, while enhancing Oman LNG's enriched In-Country Value (ICV) efforts.

"We are excited to be a part of this important project and to continue to grow and maintain our presence in Oman," continued Ibrahim. "This indicates KBR's strategic commitment to deliver our differentiated services and develop our presence and long term commitment to Oman, support its in-country value initiatives and to develop a highly skilled in-country engineering capability."

A pioneer in the LNG industry, KBR has designed and constructed one-third of the world's LNG production.

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Solutions and Energy sectors. KBR employs approximately 37,500 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:

• Government Solutions, serving government customers globally, including capabilities that cover the full lifecycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics
• Technology Solutions, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining and gasification
• Energy Solutions, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU); program management and consulting services

KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent 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, any subsequent Form 10-Qs and 8-Ks, and other U.S. 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.

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SOURCE KBR, Inc.