KBR Awarded Major Engineering Design Contract by Hyundai Heavy Industries Co., Limited for the Al-Nasr Full Field Development

abarrelfullabarrelfull wrote on 17 Nov 2014 08:50
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July 25, 2014

KBR, Inc. (NYSE:KBR) announced today that it has received a letter of award from Hyundai Heavy Industries Co. Limited to perform engineering design services for the Abu Dhabi Marine Operating Company Al-Nasr Full Field Development project, located offshore Abu Dhabi.

Under the terms of the contract, KBR will provide engineering design and support services for the entire Al-Nasr Package 2 scope with the services provided by KBR’s office in Singapore and supported by other KBR offices. The KBR Singapore office has more than 40 years of experience in providing engineering services for the offshore oil and gas industry worldwide.

The Al-Nasr Package 2 facilities consist of a multi-platform super complex that includes central processing facilities, accommodation, utilities, flares, bridges and power distribution. The Al-Nasr offshore oil field is located approximately 80 miles northwest of Abu Dhabi in the Arabian Gulf.

When completed, the super complex will produce an annual average production of 65,000 barrels of crude oil per day. ADMA-OPCO's other stakeholders in the Al-Nasr project are BP, Total and Japan Oil Development Company.

“This important award strengthens KBR’s position as an industry leader in providing engineering services for offshore oil and gas processing facilities – and reflects our ongoing commitment to deliver for our customers and industry partners,” said Stuart Bradie, KBR President and Chief Executive Officer. “KBR is excited to be working alongside HHI and ADMA-OPCO, two companies with which we have developed excellent business relationships.”

Expected revenue from the contract will be included in the third quarter 2014 backlog of unfilled orders for the Hydrocarbons segment. The contract value was not disclosed.


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