HOUSTON, March 14,
2024 /PRNewswire/ -- KBR (NYSE: KBR) announced today
it has been awarded a project management contract by Sonangol for
the design and construction of a new 200,000bpd refinery in Lobito,
Angola.
Under the terms of the contract, KBR will provide services
encompassing the project management of engineering, procurement and
construction phase execution. The Lobito Refinery Project is one of
the most significant energy infrastructure projects in the region
and will contribute to Angola's
energy independence. The project will also contribute to
significant job creation and economic development of this region.
Upon completing the Lobito Refinery Project, Angola is expected to have a 200% increase in
the capacity to produce fuel products within the country in an
efficient and sustainably improved approach.
This award further extends the more than twenty-year long
partnership between KBR and Sonangol in the development of
essential natural resources in Angola. KBR completed the FEED phase of the
project earlier in 2023, providing a cost competitive design that
met Sonangol's business objectives while meeting the advanced
emission standards required in the industry. In line with our
strategy in energy transition to provide more environmentally
friendly solutions, KBR's FEED design also meets 2030 African and
European Product Specifications with river water consumption and
waste-water treatment requirements reduced by 30% as a result of
KBR's innovation in the refinery's cooling system design.
"We are excited to be a part of this important project and to
continue to grow and maintain a substantial presence in the
region," said Jay Ibrahim,
President, Sustainable Technology Solutions. "This win is
indicative of KBR's strategic commitment to offer differentiated
technical services that support Angola's sustainable development goals."
For more than 100 years, KBR has provided holistic and
value-added solutions across the entire asset life cycle. Our
leading experts have helped design and deliver world-class refinery
and petrochemical plants across the globe.
About KBR
We deliver science, technology and engineering solutions to
governments and companies around the world. KBR employs
approximately 34,000 people worldwide with customers in more than
80 countries and operations in over 30 countries.
KBR is proud to work with its customers across the globe to
provide technology, value-added services, and long-term operations
and maintenance services to ensure consistent delivery with
predictable results. At KBR, We Deliver.
Visit www.kbr.com
Forward Looking Statements
The statements in this press release that are not historical
statements, including statements regarding performance of the
Sonangol contract, are forward-looking statements within the
meaning of the federal securities laws. These statements are
subject to numerous risks, uncertainties and assumptions, 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, uncertainties and assumptions
include, but are not limited to, those set forth in the company'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, which discuss some of the important risks, uncertainties
and assumptions that the company has identified that may affect its
business, results of operations and financial condition. Due to
such risks, uncertainties and assumptions, you are cautioned not to
place undue reliance on such forward-looking statements, which
speak only as of the date hereof. Except as required by law, the
company undertakes no obligation to revise or update publicly any
forward-looking statements for any reason.
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SOURCE KBR, Inc.