KBR today announced that it has been awarded two contracts by Sasol Technology (Pty) Ltd., to provide, respectively, engineering, procurement and construction management (EPCm) services, and basic engineering services for two of its petrochemical projects in Sasolburg, South Africa. The contracts total approximately US$2.7 million and work is expected to begin immediately.
KBR today announced that it has been selected by The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd. (PetroSA) to provide feasibility and front-end engineering and design (FEED) study services for its proposed 400,000 barrels per day (bpd) grassroots refinery - Project Mthombo (also known as Coega refinery).
KBR announced today that it has been awarded a site development contract by Sonangol, E.P. to provide engineering, procurement and construction management services for the 200,000 barrel per day (bpd) Lobito refinery, located in Lobito, Angola.
KBR today announced that it has been awarded a contract by Egypt Hydrocarbon Corporation (EHC) to complete a pre-Front End Engineering Design (pre-FEED) study for two polyethylene units at its proposed Petrochemical Complex. The complex will be located 25 km (15.5 miles) from Suez, Egypt, near the Red Sea.
KBR today announced that it has been awarded a contract by the Qatar-Bahrain Causeway Foundation (the "QBC Foundation") to provide design management, project management, and construction management services for the Qatar-Bahrain road and rail marine crossing. The Qatar Bahrain Foundation is a bi-national institution created in 2006 by the Emir of Qatar and the King of Bahrain for the purpose of developing and managing the causeway project. Dr. Ahmed Hassan Al-Hammadi, Chairman of the Board of Directors for the Foundation stated "The Foundation is pleased to have KBR, an international company of the highest reputation, working in partnership with us to manage this prestigious project. KBR's Management and Engineering team was selected after two competitive tendering events from among five international companies that expressed interest."
KBR today announced it has been awarded a disaster relief contract, valued at up to $75 million over a five-year period by the United States Army Corps of Engineers (USACE), Pittsburgh District, for its advance contract initiative for emergency power for the Western region of the United States.
KBR announced today that it has been awarded a contract by Sonangol, E.P. to provide front-end engineering and design (FEED) work for its Lobito refinery, located in Lobito, Angola.
KBR today announced that its consulting subsidiary Granherne has been selected as the contractor for two pre-front-end engineering and design (pre-FEED) studies by BG Trinidad & Tobago (BG T&T). The contracts are valued at $1.2 million.
KBR today announced it has been awarded a contract by Abu Dhabi Gas Liquefaction Company Ltd. (ADGAS) to provide program management consultancy (PMC) for the Flare Handling & Emission Reduction (FHER) Project on Das Island, Abu Dhabi.
KBR today announced that it has been awarded two contracts by Refineria de Cartagena S.A. ("Reficar") to provide technology licensing and related services to upgrade its Cartagena refinery's fluid catalytic cracking (FCC) unit. Reficar is a joint venture between Ecopetrol S. A., the national oil company of Colombia, and Glencore International AG.
KBR today announced it has been awarded multiple project task orders by the U.S. Army Corps of Engineers (USACE) under its current CENTCOM Multiple Award Task Order (MATOC) Contract. The task order awards total just more than $197 million.
KBR today announced it has been selected by the U.S. Army Corps of Engineers (USACE), Omaha District to compete for future task orders under the USACE Omaha District's Security, Disaster, Infrastructure, Construction (SDIC) contract. Two other companies were also selected to compete for tasks throughout the contract period. The total contract value to be dispersed among the three contractors is $490 million.
KBR today announced that BE&K, a division of its Services Business unit, has been awarded a multi-million dollar contract by Georgia Power for full engineering, procurement and construction (EPC) services of a new baghouse unit at Plant Scherer near Macon, Georgia. This award marks the fourth unit at the site awarded to BE&K.
KBR today announced that it has acquired Wabi Development Corporation (Wabi) for approximately US$19.5 million. Wabi, a privately held Ontario, Canada-based general contractor, services the energy, forestry and mining industries. The company will be integrated into KBR's Services Business Unit. Wabi currently employs over 350 people, providing maintenance, fabrication, construction and construction management services to a variety of clients in Canada and Mexico and generated revenue of approximately C$124 million for its fiscal year ended July 31, 2007.
KBR will host a conference call on Friday, October 31, 2008, to discuss third quarter financial results. The call will begin at 10:00 AM Central Time (11:00 AM Eastern Time).
KBR announced today that it will present at the Johnson Rice Energy Infrastructure Conference on Tuesday, October 7, 2008, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time).
KBR announced today that Kellogg Joint Venture Group (KJVG) has been awarded a Work Authorization by Chevron Australia Pty Ltd for approximately AUD$300 million to finalise front end engineering and design (FEED) for the Chevron-operated Gorgon Project.
KBR announced today that a division of its Services Business Unit, BE&K, has been awarded a contract by ADA-ES, Inc. (NASDAQ:ADES) for the construction of its Red River Activated Carbon Plant located in Red River Parish, Louisiana. The contract is valued at more than $232 million.
KBR today announced that it has been awarded a contract by Changzhou Kingboard Century Chemical Co., Ltd (Kingboard) to provide licensing and related services for a new phenol plant in Changzhou, China.
KBR today completed the company's first share repurchase program. On August 6, 2008, KBR announced that its Board of Directors authorized a program to repurchase up to five percent of its outstanding common shares. Since the announcement, the company has repurchased a total of 8.4 million shares at an average price of $23.35 per share.
KBR announced today that BE&K Construction, a division of KBR's Services Business unit, has been awarded a contract by Weyerhaeuser Company. The contract award is for the rebuild of a large recovery boiler at Weyerhaeuser's cellulose fiber mill located in Columbus, Mississippi.
KBR announced today that a judgment has been entered in the Associated Construction Company WLL (ASCO) case. ASCO was a subcontractor to KBR in Iraq and performed work under the LOGCAP III contract. The total judgment is just over $27 million, which includes damages, attorney's fees, and interest. KBR previously accrued approximately $40 million representing the probable estimate of the jury award.
KBR today announced that Lieutenant General (retired) Richard Hack has been appointed as the Senior Vice President, Operations, Maintenance and Logistics for KBR's Government and Infrastructure (G&I) business unit. In his new position, Hack will be responsible for global planning and directing all aspects of worldwide contingency operations, providing logistical and engineering support to deployed U.S. Forces and Allies in 8 countries in the Middle East and Central Asia.
KBR announced today that a division of its Services Business unit, BE&K Building Group (BE&K), has been awarded a $64 million contract by EFACEC Power Transformers, Inc. an affiliate of Portuguese based EFACEC Group (EFACEC) for the construction of a power transformer manufacturing facility at Effingham Industrial Development Authority's Industrial Park in Rincon, Georgia.
KBR today announced that its Board of Directors authorized a program to repurchase up to five percent of its outstanding common stock.
KBR announced today that second quarter 2008 net income was $0.28 per diluted share which included two adverse items: a jury award related to a 2003 LogCAP III subcontract representing $0.15 per share and one-time events on three projects resulting in a cumulative net negative impact of $0.03 per share.
KBR today announced that its consulting subsidiary Granherne has been selected as the contractor for the Euro-Asian Oil Transportation Corridor Study by MPR "Sarmatia" Sp. z o.o., a firm founded by state oil companies from Azerbaijan, Georgia, Ukraine, Lithuania and Poland.
KBR today announced its 55% owned subsidiary, M.W. Kellogg Ltd. (MWKL) has been awarded a contract by StatoilHydro to provide pre-engineering for the Double Inlet Crossover Project (DIXO) at the Kårstø Gas Plant, near Stavanger, Norway.
KBR today announced John Derbyshire as the Company's Senior Vice President for KBR's Technology business unit. Based in Houston, Derbyshire's responsibilities include commercial management, sales, marketing, strategy and acquisitions.
KBR today announced Danny Grand as the Company's Vice President, Europe, Africa and Middle East for KBR's Government and Infrastructure (G&I) business unit. Based in Abu Dhabi, Grand's responsibilities will include oversight of KBR's Civil Infrastructure business in the region.
KBR announced today that it has been awarded a $16.5 million contract for detailed engineering for the SMOE Maersk Olie Gas (MOG) Halfdan Phase IV Project.
KBR announced today that its division BE&K Government Group, LLC (BE&K) has been awarded a $16,755,000 contract by the Naval Facilities Engineering Command, Mid Atlantic (NAVFAC) for the expansion and renovation of a Navy Exchange Building at Naval Station Norfolk.
KBR today announced its 55% owned subsidiary, M.W. Kellogg Ltd. (MWKL) has been awarded a contract to provide detailed engineering and procurement services for a coker revamp project at StatoilHydro's Mongstad Refinery, near Bergen, Norway.
KBR today announced that it completed the acquisition of BE&K, Inc. a privately held, Birmingham, Alabama based engineering, construction and maintenance services company. The transaction is valued at $550 million.
KBR today announced T. Kevin DeNicola as the company's Senior Vice President and Chief Financial Officer. DeNicola's responsibilities will include oversight of KBR's Treasury, Accounting and Finance, Investor Relations, Tax and Internal Audit operations. DeNicola served recently as CFO at Houston-based Lyondell Chemical Company.
KBR today announced that it has been awarded a four-year contract, including an option for extension, by BP to provide Engineering and Project Management Services (EPMS) for BP's future offshore developments worldwide.
KBR today announced that it has completed work on the Air Products II Hydrogen Production Facility located in Edmonton, Canada.
KBR announced today that it will present at the 2008 Credit Suisse Engineering and Environmental Services Conference on Thursday, June 5, 2008, at 7:40 a.m. Eastern Time (6:40 a.m. Central Time).
KBR announced today that it has been awarded a $275 million (CAD) contract for construction and fabrication of an LCFiner unit by North West Upgrading (North West), a Calgary-based, privately-owned company building an independent, heavy oil upgrader in Sturgeon County, Alberta.
KBR today announced that it has been ranked as the number four general contractor in the United States by Engineering News-Record (ENR) magazine in its annual "Top 400 Contractors" edition.
KBR today held its annual shareholders' meeting in Houston. KBR Shareholders approved the following items at today's meeting.
KBR today announced that it has signed a definitive agreement that allows the company to proceed with plans to acquire 100% ownership of BE&K, Inc., a privately held, Birmingham, Alabama based engineering, construction and maintenance services company. The transaction, which is subject to regulatory approval, is valued at $550 million, subject to a post-closing adjustment.
KBR announced today that its board of directors has declared a quarterly cash dividend of five cents ($0.05) per share on the company's common stock, payable July 15, 2008, to shareholders of record at the close of business on June 13, 2008.
KBR today announced plans to develop a campus facility near Katy, Texas. The campus will be located off Grand Parkway and Interstate 10 (I-10). KBR has signed an earnest money agreement and intends to enter into a long-term lease for the new facility, which is expected to be just over 910,000 square feet. KBR will continue to maintain a corporate and operations presence in downtown Houston. Maintaining a downtown Houston presence will give KBR the flexibility to support engineering, project management and government contracting opportunities throughout the energy corridor in west Houston. While definitive documents have yet to be finalized, construction is expected to begin before year-end with completion anticipated in 2010.
KBR today announced that its Government & Infrastructure (G&I) business unit has been selected as one of the executing contractors of the U.S. Army's Logistics Civil Augmentation Program (LOGCAP) IV contract. Under this competitively awarded contract, KBR will continue to serve as one of three logistics support providers to U.S. forces deployed in the Middle East. Terms of the transition from LOGCAP III to LOGCAP IV and the start date of the contract are forthcoming.
KBR today announced that Major General (Retired) Andrew Pringle has been appointed Vice President Europe, Africa and Middle East Government and Defence, a new product line within KBR's Government & Infrastructure business unit. The Government and Defence Services Group group will focus on military and government department pursuits in the United Kingdom, Europe, Africa and the Middle East.
KBR today announced that its consulting subsidiary Granherne has been selected as the contractor for the United States Trade and Development Agency (USTDA) funded Trans Caspian Oil and Gas Study by the State Oil Company of the Republic of Azerbaijan (SOCAR).
KBR will host a conference call on Friday, May 2, 2008, to discuss first quarter financial results. The call will begin at 10:00 AM Central Time (11:00 AM Eastern Time).
KBR today announced that it has acquired Catalyst Interactive (CI). CI is an Australian e-learning and training solutions provider that specializes in defense, government and industry training segments. While the size of the acquisition does not have an immediate material impact on KBR's financials, it is significant from the standpoint of providing the synergy that will allow KBR to expand and complement its existing global training and technology solutions capabilities.
KBR today announced that it has acquired Turnaround Group of Texas, Inc. (TGI) TGI is a Houston-based turnaround management and consulting company that specializes in the planning and execution of turnarounds and outages in the petrochemical, pulp and paper and power industries. While the size of the acquisition does not have an immediate material impact on KBR's financials, it is significant from the standpoint of providing the synergy that will allow the KBR Services business unit to expand the turnaround execution capabilities of its Industrial Services business.
KBR today announced the completion of a methyl tertiary butyl ether (MTBE) to Iso-octene conversion project at Valero's Corpus Christi, Texas refinery.
KBR announced today that its "Eos" joint venture with WorleyParsons (50/50 KBR and WorleyParsons), has been awarded contract options for the detailed engineering and procurement management services for Woodside's North Rankin 2 (NR2) project.
KBR today announced that it has been awarded a contract by Ningbo Wanhua Polyurethanes Company to provide the technology and basic engineering for a 360,000 MTPA aniline plant. Once complete, Wanhua's aniline plant will be the largest in China and the largest single-train facility in the world.
KBR today announced that it has successfully completed construction on facilities for the Coalition Forces on the Iraqi Oil Transfer Platforms in the Persian Gulf. The project was a task order under KBR's Contingency Construction Capabilities (CONCAP) contract with the Naval Facilities Engineering Command (NAVFAC).
KBR today announced Cedric Burgher, KBR Chief Financial Officer and Senior Vice President has resigned to pursue other opportunities. Charles "Chip" Schneider has been appointed interim CFO, while the search for Burgher's successor is conducted. Schneider joined KBR in August 2006 and has served as the company's Vice President and Treasurer.
KBR today announced that its consulting subsidiary Granherne has been awarded a four-year frame agreement by Petoro AS to execute front-end studies and project reviews related to Petoro's involvement as partner in production licenses in the development of oil and gas resources on the Norwegian continental shelf. Services will include area development studies, feasibility studies, verification studies, project and technical reviews, and schedule, cost and risk analyses.
KBR today announced that its consulting subsidiary Granherne has been awarded a three year frame agreement by StatoilHydro ASA to provide conceptual engineering services for the development of oil and gas resources in the Gullfaks Area of the Norwegian continental shelf. Granherne will provide consulting engineering services to evaluate potential processing scenarios for the optimization of StatoilHydro's process systems and infrastructure.
KBR today announced four key appointments in its Operations organization. As previously announced, Dennis Calton will lead KBR Operations, serving as Executive Vice President.
KBR today announced that it has been awarded a contract by Daewoo Shipbuilding and Marine Engineering Company, Ltd. (DSME) to provide topsides engineering, procurement and interface design services for a floating production, storage and offloading (FPSO) vessel on the Pazflor project, operated by Total in Angola.
KBR announced today that Brad Lankford has been appointed Senior Vice President of Sales for KBR's Upstream Business Unit. Lankford will be responsible for the overall direction and operation of KBR's Upstream Sales group. He will also work closely with KBR's Business Development Oversight (BDO) group.
KBR announced today that its "Eos" joint venture with WorleyParsons, has been awarded a contract option worth approximately USD$24 million for the detailed engineering, procurement management and construction management assistance services for Woodside's Pluto LNG Project offshore production platform north west of Karratha, Western Australia.
KBR announced today that its joint venture, TSKJ Nigeria Ltd., has completed the construction and commissioning phase of the Nigeria LNG Limited (NLNG) Train 6 project on Bonny Island, Nigeria. NLNG awarded TSKJ the lump sum engineering, procurement, and construction contract (EPC) for LNG train six in July 2004.