KBR Awarded License Contract for Largest ROSE® Unit Design

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December 5, 2016

KBR, Inc. (NYSE: KBR) announced today it has been awarded a license and basic engineering design (LBED) contract by Hyundai Oilbank (HDO) for an 80,000 bpd ROSE® unit in Daesan, South Korea. The unit will be built using KBR's proprietary ROSE technology, which provides supercritical solvent deasphalting (SDA), and will be the largest SDA unit in the industry.

Under the terms of the contract, KBR will provide the license for use of ROSE technology, as well as basic engineering design and post-start up services. The unit is expected to come on-line around the end of 2018.

The ROSE unit will remove heavier fractions from crude oil, allowing the refinery to monetize a larger proportion of its oil intake into lighter, high-grade products, which will enhance HDO's refinery margin.

"ROSE is one of the most cost effective ways to recover more valuable product from every barrel of oil," said John Derbyshire, President of KBR Technology & Consulting. "We are proud to partner with Hyundai Oilbank to help them upgrade their residue and become more competitive in the global refining landscape."

ROSE is a highly reliable process and the market leader that consistently delivers tremendous value for the investment. KBR has licensed over 55 ROSE units globally.

KBR delivers world-class solutions to the petroleum refining market including more than 60 greenfield refineries and well over 1,000 refining process units worldwide.

Revenue associated with this project was booked into backlog of unfilled orders for KBR's Technology & Consulting business segment in Q2 of 2016.

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