HOUSTON, Aug. 31, 2017 /PRNewswire/ -- KBR, Inc.
(NYSE: KBR) announced today it has been awarded a contract by Kumul
Petroleum Holdings Limited (KPHL) for conceptual development and
feasibility study services for an energy hub in the Kikori region
of the Gulf Province of Papua New
Guinea.
Under the terms of the contract, KBR will provide location and
technology screening studies for a mid-scale LNG liquefaction and
regional export facility,180MW power generation facility, methanol
process facility and a condensate stabilization, storage and
regional export facility.
The Kikori Energy Hub (KEH) is an extension of KPHL's Western
Pipeline Project that seeks to connect oil and gas fields in the
country's western provinces to the coast for export.
"KBR is very pleased to be part of this development study which
has the potential to become a significant nation building project
for Papua New Guinea," said
Greg Conlon, KBR President,
Asia Pacific.
"This is the seventh strategic study awarded to KBR this year
for projects in South East Asia
and Australia, demonstrating our
strong regional expertise across onshore LNG and FLNG solutions,
existing LNG plant and receiving terminal expansions and LNG
regasification and distribution solutions," added Conlon.
For more than 40 years, KBR has led the concept development,
study, design and construction of over forty percent of the world's
LNG facilities.
Revenue associated with this project will be booked into backlog
of unfilled orders for KBR's E&C Business Segment in Q3
2017.
About KBR, Inc.
KBR is a global provider of differentiated professional services
and technologies across the asset and program life cycle within the
Government Services and Hydrocarbons sectors. KBR employs over
34,000 people worldwide (including our joint ventures), with
customers in more than 80 countries, and operations in 40
countries, across three synergistic global businesses:
- Government Services, serving government customers globally,
including capabilities that cover the full life-cycle 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 & Consulting, 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; gasification; oil and
gas consulting; integrity management; naval architecture and
proprietary hulls; and downstream consulting
- Engineering & Construction, 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) and program management
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 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.