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KBR Selected to Carryout Pre-NTP Services for Woodfibre LNG Project

Wire Release​

SQUAMISH, BC, Canada; HOUSTON, TX - Woodfibre LNG Limited and KBR, Inc. (NYSE: KBR) announced today that KBR, Inc. has been selected to carryout Pre-Notice to Proceed (Pre-NTP) services for the Woodfibre liquefied natural gas (LNG) Project. The Woodfibre LNG Project is located in the District of Squamish near Vancouver, British Columbia, Canada and is licensed to export approximately 2.1 mtpa of LNG for 40 years.

The selection of KBR for Pre-NTP services follows the successful completion of a competitive Front End Engineering Design (FEED) process for the Woodfibre LNG Project, which was announced in October of 2016.  Pre-NTP services will be carried out by KBR's operating centers in Houston (USA) and Edmonton (CA). The services include additional FEED work and cost optimization as well as a proposal for an engineering, procurement and construction (EPC) contract.  Woodfibre LNG expects to commence the EPC phase of the Project in 2018.

"The successful completion of FEED and now the selection of KBR to carryout Pre-NTP services are all important steps in moving the Woodfibre LNG Project forward," said Byng Giraud, Country Manager and Vice President of Corporate Affairs for Woodfibre LNG Limited, the privately held Canadian company behind the Woodfibre LNG Project.  "We look forward to reaching our next project development milestone – the awarding of an EPC contract in 2018."

"We are pleased to continue our relationship with Woodfibre LNG as they progress towards becoming one of the first LNG exporters in Canada," said Farhan Mujib, President of KBR's Engineering & Construction (E&C) Americas business. "The award of this work continues to reinforce KBR's position in British Columbia as well as our strategic commitment to developing fit-for-purpose LNG facilities for our customers."

For more than 40 years, KBR has designed or constructed over 30 different liquefaction projects across the globe, gaining industry-leading capability in the design, construction, commissioning, and start-up of these facilities.

Revenue associated with this project will be booked into backlog of unfilled orders for KBR's E&C business segment in Q4 2017.

About Woodfibre LNG

The Woodfibre LNG Project is owned and operated by Woodfibre LNG Limited, a privately held Canadian company based in Vancouver, British Columbia.  Woodfibre LNG Limited is the owner of the former Woodfibre pulp mill site, which is located about seven kilometres southwest of downtown Squamish, BC, with a Community Office in Squamish.

Woodfibre LNG Limited strives to achieve business objectives through a quintuple bottom line approach, where results are mutually beneficial to the community, country, climate, customer and company.

We are a subsidiary of Pacific Oil & Gas Limited, which is part of the Singapore-based RGE group of companies.  RGE, also known as Royal Golden Eagle, manages a group of resource-based manufacturing companies with global operations. The RGE group of companies' work ranges from the upstream, comprising sustainable resource development and harvesting, to downstream, where the companies create diverse value-added products for the global market.  Assets held by the RGE group of companies exceed US$18 billion with a combined workforce of more than 60,000 people worldwide.

Woodfibre LNG Media Line: 1.778.836.0499

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.

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 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.

For further information, please contact:

Investors
Nelson Rowe
Senior Vice President, Investor Relations
713-753-5082
Investors@kbr.com

Media
Brenna Hapes
External Global Communications
713-753-3800
Mediarelations@kbr.com