KBR Earns Three Year Extension on General Maintenance Services Contract for SATORP
HOUSTON, May 3, 2019 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) announced today that it has received a three year extension to its existing General Maintenance Services (GMS) contract for the 440,000 bpd refinery at SATORP's (a joint venture between Saudi Aramco and Total) refining and petrochemicals project in Jubail, Kingdom of Saudi Arabia.
Under the terms of the GMS contract, KBR, through its local joint venture subsidiary, will continue to provide preventive, predictive, corrective and shutdown maintenance services most notably for the Crude Distillation Units, Distillate Hydrocracker, Sulphur Recovery Unit, Aromatics, Catalytic Cracking Unit, Tank Farms and Port Loading Facilities among others.
"This contract extension confirms SATORP's continued confidence in KBR as a full-service partner throughout the lifecycle of their asset, and KBR's position as the preeminent market leader in Industrial Services," said Jay Ibrahim, KBR President, Energy Solutions -- Services. "We are also proud that our strong commitment to ZERO HARM has achieved over 2.3 million safe man-hours on this project."
KBR's strategic partnership with SATORP has the potential to stimulate industry-wide changes to current maintenance outsourcing philosophies, as KBR intends to drive its proven digital transformation initiatives to maximize asset utilization, minimize opex and augment asset ROI for customers.
KBR has capitalized on driving digital transformation including robotics, modeling & simulation, data analytics, and enterprise software development from its government services business into the energy space.
"KBR's culture of excellence is evident in its people's expertise and professionalism," said Suleiman Mansour Ababtain, SATORP CEO. "We appreciate KBR as a business partner in diverse business segments, and look forward to expanding our partnership to leverage off its advanced capabilities for delivering operational excellence in our refinery."
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.
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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.
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