KBR Wins Shell Canada Contract - Analyst Blog
April 09 2013 - 12:55PM
Zacks
KBR, Inc. (KBR) recently announced that it has
been selected by Shell Canada Energy to conduct off-site
modularization and pipe fabrication at Shell Canada’s Edmonton
Module Facility. As per the contract, KBR will help Shell to derive
the maximum benefits from the off-site modularization by providing
pipe spool fabrication and module assembly for pipe, process,
equipment and building modules.
The contract also involves the manufacture of a number of unique
and new vertical modules and support for off-site testing and
commissioning services. This project is KBR’s first Canadian Oil
Sands Carbon Capture and Storage project.
The project at Edmonton Module Facility will deploy Shell Quest
Carbon Capture and Storage (CCS) technologies to minimize CO2
emissions at Shell’s Upgrader, which primarily upgrades oil
generated from Shell’s Athabasca Oil Sands operations. The Shell
Quest Carbon Capture and Storage technology is expected to decrease
greenhouse gas emissions by capturing more than one million metric
tons of CO2 produced during the upgrading process annually.
Recently, KBR inked an agreement with the State Oil Company of
the Azerbaijan Republic (SOCAR). The contract relates to providing
the front-end engineering and design (FEED) services to the Gas
Processing Plant (GPP) located in the Oil-Gas Processing and
Petrochemical Complex (OGPC) in Azerbaijan.
The contract will be considered in KBR’s Hydrocarbon’s market,
which primarily engages in engineering, procurement and
construction services for large and complex upstream and downstream
projects, including LNG and GTL facilities, onshore and offshore
oil and gas production facilities, refining, petrochemicals,
biofuels and other projects throughout the world. The technology
segment revenue under the Hydrocarbon’s market grew 20% year over
year.
KBR currently carries a Zacks Rank #3 (Hold). Other stocks worth
a look in the services sector are Jacobs Engineering Group
Inc. (JEC), AECOM Technology Corp (ACM)
and Chicago Bridge & Iron (CBI), all carrying
a Zacks Rank #2 (Buy).
AECOM TECH CORP (ACM): Free Stock Analysis Report
CHICAGO BRIDGE (CBI): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
KBR INC (KBR): Free Stock Analysis Report
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