Mar 05 | 2019
Contracts with ExxonMobil to expand crude project.
Industrial contractor KBR is to carry out breakbulk transport and construction as part of a contract awarded by ExxonMobil for the expansion of a crude project in Beaumont, Texas.
The substantial contract will cover all engineering, procurement, and construction services for the offsites and interconnecting units and follows a strong start for orders in 2019.
"KBR is proud to continue our relationship with ExxonMobil through our partnership on this project. This project showcases KBR's long history of executing projects on the U.S. Gulf Coast,” Farhan Mujib, KBR President said.
Jubail Contract Win
The deal follows a separate, sizeable contract win for KBR in Saudia Arabia, to debottleneck Train2 of an existing 440,000 barrels per day refinery in Jubail.
The contract, awarded by SATORP a joint venture between Saudi Aramco and Total, is expected to increase the original refinery's throughput by 15 percent once completed in August 2020.
"This award signifies SATORP's trust in KBR to deliver this schedule critical project to support the upcoming major refinery turnaround in 2020. It is our objective to not only deliver this project within schedule but also with Zero Harm to our people and the environment," Jay Ibrahim, KBR President, said.
4Q Results Boost Growth Forecast
The contracts helped buoy a strong bottom-line for the offshore services provider as it reported revenue growth of 42 percent for the fourth quarter of 2018. This equated to US41.3 billion in takings, leading to a positive forecast for the group’s hyrdrocarbons division.
“I am delighted to report our 2018 full year results, in which we added our eighth consecutive quarter of strong revenue, earnings and cash flow … our Hydrocarbons Services business is well-positioned for growth as our clients embark on a healthy capital investment cycle,” said Stuart Bradie, CEO of KBR.
Headquartered in Houston, Texas, KBR employs around 34,000 people worldwide, with customers in more than 75 countries, and operations in 40 countries.
Photo: KBR workers. Credit: KBR
The substantial contract will cover all engineering, procurement, and construction services for the offsites and interconnecting units and follows a strong start for orders in 2019.
"KBR is proud to continue our relationship with ExxonMobil through our partnership on this project. This project showcases KBR's long history of executing projects on the U.S. Gulf Coast,” Farhan Mujib, KBR President said.
Jubail Contract Win
The deal follows a separate, sizeable contract win for KBR in Saudia Arabia, to debottleneck Train2 of an existing 440,000 barrels per day refinery in Jubail.
The contract, awarded by SATORP a joint venture between Saudi Aramco and Total, is expected to increase the original refinery's throughput by 15 percent once completed in August 2020.
"This award signifies SATORP's trust in KBR to deliver this schedule critical project to support the upcoming major refinery turnaround in 2020. It is our objective to not only deliver this project within schedule but also with Zero Harm to our people and the environment," Jay Ibrahim, KBR President, said.
4Q Results Boost Growth Forecast
The contracts helped buoy a strong bottom-line for the offshore services provider as it reported revenue growth of 42 percent for the fourth quarter of 2018. This equated to US41.3 billion in takings, leading to a positive forecast for the group’s hyrdrocarbons division.
“I am delighted to report our 2018 full year results, in which we added our eighth consecutive quarter of strong revenue, earnings and cash flow … our Hydrocarbons Services business is well-positioned for growth as our clients embark on a healthy capital investment cycle,” said Stuart Bradie, CEO of KBR.
Headquartered in Houston, Texas, KBR employs around 34,000 people worldwide, with customers in more than 75 countries, and operations in 40 countries.
Photo: KBR workers. Credit: KBR
