31 Aug, 2017, 05:56 ET
HOUSTON, Aug. 31, 2017 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) announced today it has been awarded a contract by Kumul Petroleum Holdings Limited (KPHL) for conceptual development and feasibility study services for an energy hub in the Kikori region of the Gulf Province of Papua New Guinea.
Under the terms of the contract, KBR will provide location and technology screening studies for a mid-scale LNG liquefaction and regional export facility,180MW power generation facility, methanol process facility and a condensate stabilization, storage and regional export facility.
The Kikori Energy Hub (KEH) is an extension of KPHL's Western Pipeline Project that seeks to connect oil and gas fields in the country's western provinces to the coast for export.
"KBR is very pleased to be part of this development study which has the potential to become a significant nation building project for Papua New Guinea," said Greg Conlon, KBR President, Asia Pacific.
"This is the seventh strategic study awarded to KBR this year for projects in South East Asia and Australia, demonstrating our strong regional expertise across onshore LNG and FLNG solutions, existing LNG plant and receiving terminal expansions and LNG regasification and distribution solutions," added Conlon.
For more than 40 years, KBR has led the concept development, study, design and construction of over forty percent of the world's LNG facilities.
Revenue associated with this project will be booked into backlog of unfilled orders for KBR's E&C Business Segment in Q3 2017.
About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. KBR employs over 34,000 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:
- Government Services, serving government customers globally, including capabilities that cover the full life-cycle 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 & Consulting, 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; gasification; oil and gas consulting; integrity management; naval architecture and proprietary hulls; and downstream consulting
- Engineering & Construction, 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) and program management
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.
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 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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