KBR Awarded FEED plus EPCM Option Contract for Methanex's Potential Geismar 3 Methanol Project
HOUSTON (July 31, 2018)
KBR, Inc. (NYSE: KBR) announced today it has been awarded a reimbursable Engineering, Procurement and Construction Management (EPCM) contract by Methanex Corporation for providing Front End Engineering Design (FEED) services for a 5000 MTPD world-scale methanol plant to be located adjacent to their existing Geismar, Louisiana facilities.
Under the terms of the contract, KBR will work closely with Methanex to provide FEED services for a third methanol operating plant at the site. The FEED work, which will be executed from KBR's Houston Operations Center, is expected to be completed over the next 12 months with Final Investment Decision expected by mid-2019.
Pending a Final Investment Decision to proceed with the potential third plant in Geismar, KBR will then have the opportunity to provide detailed EPCM services for the new facility.
"This significant award demonstrates KBR's integrated engineering, procurement and construction management offerings, from the front end engineering, through project completion," said Farhan Mujib, President, Hydrocarbons Services Americas. "The award of this project demonstrates KBR's strength and capabilities in Gas Monetization projects. I am delighted for this opportunity to further KBR's partnership with Methanex and look forward to supporting Methanex on this major potential project."
For more than 40 years, KBR has designed, constructed and maintained hundreds of petrochemical plants across the globe.
Estimated revenue associated with this project will be booked into backlog of unfilled orders for KBR's Hydrocarbons Services Business Segment in Q3 2018.
About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Services and Hydrocarbons sectors. KBR employs approximately 34,000 people worldwide (including our joint ventures), with customers in more than 75 countries, and operations in 40 countries, across three synergistic global businesses:
Government Services, 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, 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
Hydrocarbons Services, 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.
Forward Looking Statement
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