Houston, TX /PRNewswire/ - KBR, Inc. (NYSE:KBR) announced today it has been selected by Freeport LNG Development, L.P. as the preferred bidder for the engineering, procurement, construction, and commissioning (EPC) contract for Train 4 at Freeport LNG's export facility near Freeport, Texas.
"We are excited to be selected for this significant project, and to continue to grow our leadership position in gas monetization," said Stuart Bradie, KBR President and CEO. "This project is firmly in line with our stated corporate strategy to sign up the right work with the right clients and we appreciate FLNG's confidence in KBR's ability to deliver."
Under the terms of the expected EPC contract, KBR will provide engineering, procurement, construction, commissioning and startup of a nominal 5 mtpa LNG train and associated gas pre-treatment plant for the export of U.S. gas to international markets.
This selection was made following completion of a 9 month front-end engineering and design (FEED) verification, execution planning and EPC proposal process and demonstrates the trust Freeport LNG has placed in KBR to deliver with great surety of outcome. The 4th train will be similar to the first 3 trains at the facility. KBR also has extensive experience successfully delivering projects in the U.S. Gulf Coast region – including a recent EPC ammonia facility in the Freeport area.
It is expected that the fixed price EPC contract will be concluded within this quarter and will be followed by a Limited Notice to Proceed period which will include early engineering and commitment of critical long lead equipment orders. It is expected that full notice to proceed will occur in the second half of 2019.
For over 40 years KBR has managed and developed approximately a third of the world's LNG capacity through a portfolio of liquefaction and terminal projects. Backed by a legacy of engineering innovation, hands-on knowledge and technical expertise, KBR creates solutions to customers' challenges that deliver the impossible on a daily basis.
About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Solutions and Energy sectors. KBR employs approximately 37,500 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 U.S. 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.
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