KBR Expands Support for Saudi's Energy Future

Rhea-AI Summary

KBR has secured a contract to support Saudi Aramco's Master Expansion Program, focusing on increasing gas handling capacity at key regional locations through 2028. The project involves enhancing the capacity of Shaybah field's four Gas-Oil Separation Plants (GOSPs), power plant, and well injection facilities.

The initiative emphasizes sustainability through integration of carbon-free energy alternatives, carbon capture, and gas reinjection to reduce emissions. The project includes optimizing existing equipment and evaluating a greenfield facility to support Saudi Aramco's 2060 net-zero goals.

KBR's involvement in Saudi Arabia extends over four decades, contributing to energy, infrastructure, and sustainability sectors in alignment with Saudi Arabia's Vision 2030.

Positive

• Secured multi-year contract through 2028 with Saudi Aramco
• Expansion of existing business relationship in Saudi Arabian market
• Project contributes to long-term sustainable energy infrastructure

Negative

• None.

HOUSTON, Jan. 22, 2025 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has been awarded a contract to support sustainable production of energy resources in Saudi Arabia by contributing to the delivery of Saudi Aramco's Master Expansion Program and increasing gas handling capacity at key regional locations.

Under the contract, running through to 2028, KBR will support work to increase and maintain maximum sustainable capacity across the Shaybah field's four Gas-Oil Separation Plants (GOSPs), as well as power plant and well injection facilities – helping support the Kingdom's future energy requirements.

The project prioritizes sustainability by integrating carbon-free energy alternatives, carbon capture, and gas reinjection to reduce emissions, optimizing existing equipment and GOSP plot space, and evaluating a greenfield facility to enhance resource efficiency while supporting Saudi Aramco's 2060 net-zero goals.

Jay Ibrahim, President KBR Sustainable Technology Solutions, said, "We are pleased to continue partnering with Saudi Aramco and help shape a greener future for generations to come. This project underscores our commitment to delivering excellence and supporting sustainable energy generation in Saudi Arabia."

KBR's presence in Saudi Arabia spans over four decades of impactful collaboration and partnership. Throughout this time, KBR has played a significant role in advancing key sectors such as energy, infrastructure and sustainability, consistently delivering innovative solutions that align with Saudi Arabia's ambitious Vision 2030. This enduring relationship reflects KBR's dedication to excellence and shared progress.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 37,000 people performing diverse, complex and mission-critical roles in 33 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 future business performance, customer demand and project outcomes, 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
Jamie DuBray
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

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SOURCE KBR, Inc.

FAQ

What is the duration of KBR's new contract with Saudi Aramco?

KBR's contract with Saudi Aramco runs through to 2028, supporting the Master Expansion Program and increasing gas handling capacity.

What facilities will KBR help expand in the Shaybah field?

KBR will support work to increase capacity across four Gas-Oil Separation Plants (GOSPs), power plant, and well injection facilities in the Shaybah field.

How does KBR's new contract align with Saudi Aramco's environmental goals?

The project supports Saudi Aramco's 2060 net-zero goals through carbon-free energy alternatives, carbon capture, and gas reinjection to reduce emissions.

How long has KBR been operating in Saudi Arabia?

KBR has maintained a presence in Saudi Arabia for over four decades, collaborating on energy, infrastructure, and sustainability projects.