HOUSTON, Sept. 17, 2018 /PRNewswire/ -- KBR, Inc.
(NYSE: KBR) announced today that it is pursuing a new phase of
joint development with ConocoPhillips LNG Licensing LLC to provide
low-cost and expedited mid-scale LNG solutions for the
marketplace. The companies will leverage their extensive
expertise in LNG to jointly develop a standardized LNG train that
will provide mid-scale LNG capacity for both greenfield and
brownfield expansions seeking an off-the-shelf solution to reduce
costs and shorten schedules for LNG facility installations.
KBR and ConocoPhillips have agreed to complete a front-end
engineering and design (FEED) quality reference design for a
mid-scale capacity LNG train (1.5 – 3.0 MTPA) suitable for a wide
range of feed gas and ambient temperature conditions. The
integrated design approach, utilizing ConocoPhillips' proven
Optimized Cascade® process technology and constructed
with integrated modularized construction, is expected to be
available for new LNG projects starting in 2019.
Work began with ConocoPhillips in 2017 with KBR applying their
SmartSPENDSM methodology to achieve cost reductions for
LNG facilities using the Optimized Cascade® process
technology. Building on this experience and responding to
demand in the marketplace, the parties decided to focus on
developing a mid-scale LNG solution that achieves low unit costs
and fast deployment while maintaining high efficiency and
operability. The parties will also continue to cooperate on
large scale LNG trains utilizing similar methodology and
technology.
"KBR and ConocoPhillips both have a well-established and
respected history in LNG," said Farhan
Mujib, KBR President, Hydrocarbons Services Americas. "This
unique opportunity leverages that experience to combine KBR's plant
configuration and project execution experience with the reliable
and well-proven ConocoPhillips' LNG technology and operating
experience."
KBR has delivered approximately one third of the world's current
LNG production capacity and has been consistently active in the LNG
industry for over 40 years. The ConocoPhillips Optimized
Cascade® process is utilized in LNG plants producing
about 23 percent of the world LNG supply. KBR has experience
with nearly every LNG process technology licensor in order to
integrate the most suitable process technologies with KBR's
execution solutions for project-specific conditions.
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.
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.