KBR Receives Change Orders for Yemen LNG Project
June 15 2010 - 4:05PM
Business Wire
KBR (NYSE: KBR) announced that it has received final change
order agreements with its joint venture partners Technip of France
and JGC Corporation of Japan, for the Yemen LNG Plant. The contract
on this lump-sum turnkey project, valued at more than $2 billion,
was first announced in September 2005. As announced in KBR’s First
Quarter 2010 Earnings Call, Train 2 of the Yemen project achieved
ready for start-up status on March 12 and care, custody and control
of the project has been turned over to the client. The final change
order agreements generate KBR after tax income of approximately $27
million or $0.17 of earnings per diluted share.
“KBR has been in negotiation of these change orders since late
2009. Receipt of these change orders is a significant project
milestone and we are pleased to have concluded our work to engineer
and construct this plant,” said Mitch Dauzat, President, KBR Gas
Monetization. “We will now focus our attention on completing our
project punch list and other related activities as we prepare to
demobilize from the site.”
KBR is a global engineering, construction and services company
supporting the energy, hydrocarbon, government services, minerals,
civil infrastructure, power and industrial markets. For more
information, visit www.kbr.com.
KBR (NYSE:KBR)
Historical Stock Chart
From Apr 2024 to May 2024
KBR (NYSE:KBR)
Historical Stock Chart
From May 2023 to May 2024