HOUSTON, Oct. 30, 2014 (GLOBE NEWSWIRE) -- KBR, Inc. (NYSE: KBR) announced today that its joint venture partnership with PT Rekayasa Industri, JGC Corporation and PT JGC Indonesia, the RJK JV, has been awarded the onshore front-end engineering and design (FEED) contract by BP for a third liquefaction train at the Tangguh LNG Project in West Papua province, Indonesia.
The expansion project follows the successful completion in 2009 of the two train Tangguh LNG plant and associated facilities by a joint venture partnership between JGC Corporation, KBR and PT Pertafenikki Engineering (KJP JV).
The Tangguh LNG Project, located in remote Bintuni Bay, West Papua, was the largest capital development project ever undertaken in Indonesia and involved the successful delivery of community, local content, environmental and safety performance.
"KBR is proud to continue our longstanding relationship with BP and our joint venture partners, PT Rekayasa Industri and JGC Corporation and PT JGC Indonesia, on the Tangguh LNG expansion. This project represents KBR's ability to bring world-class engineering skills to complex energy projects and follows KBR's 30-year presence and successful track record in the Asia-Pacific region," said Stuart Bradie, KBR President and CEO.
The Tangguh LNG Project is located in Teluk Bintuni, Papua Barat. Tangguh began production in 2009 and gas from a third LNG train will come from a phased offshore development of new shallow water platforms, new pipelines to shore, new infield pipelines, a new integrated onshore receiving facility and new development wells. Tangguh's capacity is currently 7.6 million tons and is expected to reach 11.4 when the expansion project is completed.
Expected revenue from the contract will be included in the fourth quarter of 2014 backlog of unfilled orders for the Gas Monetization segment. The contract value was not disclosed.
About KBR
KBR is a global engineering, construction and services company supporting the energy, hydrocarbons, chemicals, industrial, civil infrastructure, minerals, government services and commercial markets. For more information, visit www.kbr.com.
Forward Looking Statement
The statements in this press release that are not historical statements, including statements regarding future financial performance and backlog information, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, 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 and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates, escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.
KBR's most recently filed Annual Report on Form 10-K/A, any subsequent Form 10-Qs and 8-Ks, and other Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Contact:
Investors
Zac Nagle
Vice President, Investor Relations
713-753-5082
Investors@kbr.com
Media
Richard Goins
Director, Communications
713-751-9471
Mediarelations@kbr.com
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