KBR Awarded PMC Services Contract for Oman LNG's Power Plant Project

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Jun 25, 2018, 05:52 ET

HOUSTON, June 25, 2018 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) announced it has been awarded a Project Management Consultancy (PMC) Services contract by Oman Liquefied Natural Gas L.L.C. (Oman LNG) for a new 120 MW gas engine power plant which is aimed to reduce fuel gas consumption and greenhouse gas emissions while maintaining LNG production at Oman LNG's existing LNG plant in Sur, Oman.

Under the terms of this reimbursable contract, KBR will provide PMC services to assist Oman LNG in the selection and management of the successful EPC contractor for the project in Oman over a three year period.

KBR is a recognized leader in LNG with over 40 years of continuous experience and depth of capability, know-how and engineering talent that is unmatched in the industry.

"We are proud of the pivotal role that KBR has played in the development of this project during the pre-FEED and FEED phases and are excited to continue to grow our substantial presence in the Middle East through this contract," said Jay Ibrahim, KBR President, Europe, Middle East and Africa and Asia-Pacific.

"KBR remains firmly committed to Oman and I am very pleased to announce that we will be establishing permanent offices based in Muscat to support this work as well as other clients in Oman," Ibrahim continued. "With a stronger foothold in Oman, KBR will be in a better place to provide new job opportunities for local talent and professionals in close collaboration with the Omani government and local institutions."

Estimated revenue associated with this contract will be booked into backlog of unfilled orders for KBR's Hydrocarbons Services Business Segment in the second quarter of 2018.

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Services and Hydrocarbons sectors. KBR employs approximately 34,000 people worldwide (including our joint ventures), with customers in more than 75 countries, and operations in 40 countries, across three synergistic global businesses:

Government Services, 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, 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
Hydrocarbons Services, 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.

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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.

SOURCE KBR, Inc.