HOUSTON, Oct. 2, 2017 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) announced today it has been awarded an engineering and project management services contract by JVGAS ? a joint venture of Sonatrach, Statoil and BP ? for the provision of engineering, procurement and construction management services in Algeria.
Under the terms of the contract KBR will provide detail design engineering, procurement services as well as construction management at the major gas developments at In Salah Gas and In Amenas. This work, which is expected to be performed over 48 months, will be a KBR collaboration with engineering and the procurement services being performed from the UK and Chennai offices in partnership with the local, in-country, engineering office.
"KBR is proud of its long history in Algeria where we have been working for over 45 years," said Jay Ibrahim, KBR President, EMEA "This project will demonstrate KBR's ability to utilize its global resources to provide the full spectrum of engineering project services on one of the largest projects in the country."
Revenue associated with this project will be booked into backlog of unfilled orders for KBR's Engineering & Construction Business as task orders are confirmed.
About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. KBR employs over 34,000 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:
KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.
Forward Looking Statement
The statements in this press release that are not historical statements, including statements regarding future financial performance, 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, 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.
SOURCE KBR, Inc.
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