KBR Awarded Project Management Contract to Support Libya’s Downstream Expansion at Zallaf South Refinery
Rhea-AI Summary
KBR (NYSE: KBR) was awarded a project management and technical services contract by Zallaf Exploration, Production and Refining of Oil and Gas Company for the South Refinery Project in Ubari, Southwest Libya.
The work covers contract and project management plus supporting technical services across EPC phases, to be executed over a 50-month period. KBR highlighted its global experience with more than 160 refining and downstream projects and prior engineering work on Libya’s Great Man-Made River.
Positive
- 50-month contract execution period for South Refinery Project
- Contract awarded by Zallaf to provide EPC-phase project and technical management
- KBR cited execution of 160+ refining and downstream projects globally
- Prior engineering experience on Libya's Great Man-Made River project
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
KBR is up 1.53% while peers are mixed: FLR up 1.5%, DY up 0.68%, but PRIM, IESC and ROAD down roughly 1–1.6%. Momentum scanner flags only ECG (+2.82%) in the group, supporting a stock-specific read.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 12 | Maintenance contract win | Positive | -2.3% | Seven-year general maintenance services deal for SATORP petrochemical expansion. |
| Mar 04 | Long-term supply deal | Positive | -1.1% | 10-year global catalyst supply contract for six Indorama ammonia plants. |
| Feb 26 | Earnings and guidance | Positive | +3.0% | Q4/FY2025 earnings with higher net income, backlog growth and 2026 guidance. |
| Feb 24 | Defense tech strategy | Positive | +0.2% | Expansion of digital engineering capabilities for U.S. military modernization programs. |
| Feb 23 | Iraq oil project award | Positive | -5.6% | Integrated Field Management Services contract for Iraq’s Majnoon oil field. |
Recent positive contract and growth announcements have often seen mixed-to-negative next-day reactions, with 3 of 5 upbeat releases followed by share price declines.
Over the past month, KBR has announced multiple international contract wins and solid financial results. On Feb 26, it reported Q4 revenue of $1.9B and FY2025 revenue of $7.8B, with net income up double digits and backlog/options reaching $23.2B, plus 2026 guidance of $8.13B revenue and $1.01B adjusted EBITDA. Subsequent wins in Iraq, a long-term ammonia catalyst contract, and SATORP maintenance underscore a growing energy and infrastructure portfolio, which today’s Libya refinery PMC award further extends.
Market Pulse Summary
This announcement highlights another international downstream award for KBR, extending its project management role to Libya’s South Refinery over a 50-month period. It fits a pattern of recent wins in Iraq and long-term ammonia and maintenance contracts that supported a backlog of $23.2B and 2026 revenue guidance of $8.13B. Investors may watch how this and similar awards translate into margin performance, cash generation, and backlog quality over time.
Key Terms
epc technical
downstream technical
AI-generated analysis. Not financial advice.
HOUSTON, March 18, 2026 (GLOBE NEWSWIRE) -- KBR (NYSE: KBR) announced today it has been awarded a contract by Zallaf Exploration, Production and Refining of Oil and Gas Company to provide project management and technical services for the South Refinery Project in Ubari, Southwest Libya.
Under the terms of the contract, KBR will provide contract management, project management and supporting technical services throughout the EPC phases of the project. This work is expected to be executed over a 50-month period.
The South Refinery Project aligns with KBR’s long-standing commitment to advancing vital oil and gas infrastructure in Libya. KBR has a proven track record of delivering successful projects in the country, including engineering services for major national programs such as the Great Man-Made River Project, widely recognized as the largest irrigation project in the world, along with other landmark developments across Libya. Globally, KBR has executed more than 160 refining and downstream projects in project and construction management (PMC) roles, reinforcing its depth of experience in executing complex energy projects.
“As an American company with a long and proud history in Libya, we are pleased to support this strategically important project,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “We are committed to establishing a long-term presence in the country, built on strong local engineering talent, while once again demonstrating our world class capability to safely and reliably manage large scale, complex projects on schedule.”
KBR continues to deliver tailored energy solutions worldwide, with a strong focus on safety, performance, and long-term value for its clients.
About KBR
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 36,000 people worldwide with customers in more than 85 countries and operations in over 28 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 the project management work for Zallaf Exploration, 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 U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
For further information, please contact:
Investors
Rachael Goldwait
Vice President, Investor Relations
713-753-5082
Investors@kbr.com
Media
Philip Ivy
Vice President, Global Communications and Marketing
713-753-3800
MediaRelations@kbr.com
FAQ
What contract did KBR (KBR) win on March 18, 2026 for Libya's South Refinery Project?
How long will KBR (KBR) execute the South Refinery Project contract in Libya?
Who awarded KBR (KBR) the South Refinery Project contract in Ubari, Libya?
What experience does KBR (KBR) cite to support its Libya refinery work?
Will the KBR (KBR) contract for Libya include EPC-phase responsibilities?
Does the announcement disclose the monetary value of KBR's (KBR) Libya contract?
