KBR Awarded Maintenance Services Contract by Sadara Under Maintenance Alliance Program

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May 02, 2019, 04:52 ET

HOUSTON, May 2, 2019 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) announced today it has been awarded a Maintenance Alliance Program (MAP) contract to provide long-term maintenance services for the Sadara Chemical Company, a joint venture of Saudi Aramco and Dow Chemical Company.

The Sadara project is the largest chemical complex ever built in a single phase, with 26 world-scale manufacturing plants, at a total investment of approximately $20billion. Under the terms of the MAP contract, KBR, through its local joint venture subsidiary KBR Al Yusr , will provide preventative and predictive maintenance services (PPM) for an initial period of 3 years, extendable up to 5 years. In addition to PPM KBR Al Yusr will support Sadara with management and execution of corrective maintenance, shutdowns and turnarounds.

"We are delighted to be selected for the Sadara Maintenance Alliance Program for two out of the three envelopes which were tendered," said Jay Ibrahim, KBR President, Energy Solutions – Services. "This award confirms Sadara's continued confidence in KBR as a full-service partner throughout the lifecycle of this project, and KBR's position as the preeminent market leader in Industrial Services."

KBR was originally awarded the feasibility and pre-FEED for the entire Sadara complex, and later awarded the Front End Engineering Design (FEED) for several major assets. In addition, KBR provided project management oversight during the Engineering Procurement and Construction (EPC) phase of the project which peaked at about 660 specialized KBR personnel at the Jubail site.

"We are incredibly proud of the safety record already achieved on the Sadara project during the EPC phase under KBR's management, working over 80 million construction hours without a single lost time incident," Ibrahim continued. "The safety of our people remains a cornerstone of our culture and we intend to roll-out our Zero Harm safety program in MAP immediately."

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Solutions and Energy sectors. KBR employs approximately 37,500 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:

Government Solutions, 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 Solutions, 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
Energy Solutions, 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.

SOURCE KBR, Inc.