KBR Awarded Project Management Contract to Support Libya’s Downstream Expansion at Zallaf South Refinery
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.
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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.
Details
News Market Reaction – KBR
On Mar 18, the day this news came out, KBR closed 1.59% below the previous close.
Data tracked by StockTitan Argus for the Mar 18 session.
Key Figures
- Contract duration
- 50-month period
- Execution period for South Refinery Project services
- Refining projects
- More than 160 projects
- Global refining and downstream PMC roles executed by KBR
- Q4 2025 revenue
- $1.9B
- Quarter ended FY2025, from Feb 26 earnings release
- FY2025 revenue
- $7.8B
- Full-year 2025, from Feb 26 earnings release
- Q4 2025 net income
- $111M
- Net income attributable to KBR, Q4 2025
- FY2025 net income
- $415M
- Net income attributable to KBR, full year 2025
- Backlog and options
- $23.2B
- Backlog and options as of Q4 2025
- 2026 revenue guidance
- $8.13B
- Midpoint of fiscal 2026 guidance
Historical Context
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Seven-year general maintenance services deal for SATORP petrochemical expansion.
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10-year global catalyst supply contract for six Indorama ammonia plants.
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Q4/FY2025 earnings with higher net income, backlog growth and 2026 guidance.
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Expansion of digital engineering capabilities for U.S. military modernization programs.
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Integrated Field Management Services contract for Iraq’s Majnoon oil field.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
epc technical
downstream technical
AI-generated analysis. How Rhea-AI works. 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
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