KBR Awarded Global Agreement by BP for Engineering, Procurement and Construction Management Services
Rhea-AI Summary
KBR has secured a global agreement with BP International for engineering, procurement and construction management (EPCM) services. The three-year contract, with a potential two-year extension option, covers both conventional and new energy sector projects worldwide, including onshore, offshore, greenfield, and brownfield developments.
The agreement builds upon KBR's 70-year relationship with BP and expands their existing engineering services partnership. Project teams will collaborate across multiple global locations, including Houston, Baku, India, Abu Dhabi, Oman, Singapore, Perth, and London. KBR has previously supported BP's projects in the U.S., North Sea, Iraq, Africa, and Azerbaijan, providing both EPCM services and licensed technology solutions.
Positive
- Secured new global EPCM services agreement with major client BP
- Contract spans 3 years with 2-year extension option
- Expansion of existing service scope to include both conventional and new energy projects
- Geographic diversification across multiple global locations
Negative
- None.
News Market Reaction – KBR
On the day this news was published, KBR gained 1.59%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Under the terms of the contract, KBR will provide EPCM for onshore, offshore, greenfield and brownfield conventional energy projects and new energy sector projects worldwide for three years, with an option to extend for two additional years. Additionally, KBR provides bp with market-leading licensed technology solutions, demonstrating the depth and versatility of its capabilities.
"We are delighted to continue our 70-year successful working relationship with bp while maintaining our record of safely and effectively delivering quality projects in conventional and new energy sectors," said Jay Ibrahim, President, KBR Sustainable Technology Solutions. "This global agreement with bp will involve multiple project teams collaborating from offices in
KBR and bp currently have a global agreement in place for engineering services, under which KBR has played a key role in projects spanning the
About KBR
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 37,000 people worldwide with customers in more than 80 countries and operations in over 30 countries.
KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.
Visit www.kbr.com
Forward Looking Statements
The statements in this press release that are not historical statements, including statements regarding contractual performance periods, project outcomes and future demand for the company's services, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties, and assumptions, 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, uncertainties and assumptions include, but are not limited to, those set forth in the company's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other
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SOURCE KBR, Inc.
FAQ
What is the duration of KBR's new EPCM contract with BP?
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