KBR JV wins contract with BP Exploration to reduce carbon footprint of Shah Deniz Alpha Power Supply

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HOUSTON, June 20, 2022 /PRNewswire/ — KBR (NYSE:KBR) today announced that its SOCAR-KBR joint venture has been awarded a contract for initial engineering design (FEED), turnaround engineering and supply by BP Exploration for the Shah Deniz Alpha (SDA) platform in Azerbaijan.

KBR, Inc. (PRNewsfoto/KBR, Inc.)

This project will significantly reduce SDA’s overall carbon footprint and increase operational efficiency, by providing a robust, long-lasting, high-availability power supply. SOCAR-KBR will be responsible for FEED services for the dismantling of the five existing main power generators on the SDA platform. They will then create a power supply from the KBR-designed Shah Deniz Bravo platform via undersea cables and an emergency power generator.

“KBR works in the AzerbaijanGeorgiaTurkey region since 1993, giving us unparalleled expertise with on- and off-shore greenfield and brownfield assets,” said Jay Ibrahim, Chairman of KBR Sustainable Technology Solutions. “Our SOCAR-KBR joint venture allows us to combine KBR’s proven tools, systems, procedures and project track record in the region with SOCAR’s operational knowledge and experience in the energy sector.”

This project will be delivered by SOCAR-KBR Baku office to maximize local execution, with specialist subject matter expert support provided by KBR London operations. KBR is proud that more than 95% of its BakuThe team based at SOCAR-KBR is made up of Azerbaijani engineers.

About KBR

We provide science, technology and engineering solutions to governments and businesses around the world. KBR employs approximately 28,000 people performing diverse, complex and critical roles in 34 countries.

KBR is proud to work with customers around the world to provide technology, value-added services, and long-term operation and maintenance services to ensure consistent delivery with predictable results. At KBR, we deliver.

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Forward-looking statement

Statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company’s control and 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: material adverse impacts on economic and market conditions from the COVID-19 pandemic and the company’s ability to respond to resulting business challenges and disruptions; the recent dislocation of the global energy market; the company’s ability to manage its cash; results and publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and the potential adverse results and consequences of such proceedings; changes in capital expenditures by the company’s customers; the company’s ability to obtain contracts from existing and new customers and to execute on those contracts; structural changes in the industries in which the company operates; escalating costs associated with completing fixed-price projects and the company’s ability to control its costs under its contracts; claims negotiations and contractual 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 governmental regulations and regulatory requirements; compliance with income tax laws; unstable political conditions, war and the effects of terrorism; foreign operations and exchange rates and controls; the development and installation of financial systems; the possibility of cyberattacks and malware; increased competition for employees; the ability to complete and integrate acquisitions; and the activities of joint ventures, including joint ventures that are not controlled by the company.

The company’s most recently filed Annual Report on Form 10-K, all subsequent Forms 10-Q and 8-K, and other filings with the United States Securities and Exchange Commission discuss some of the material risk factors that the company has identified and which may affect its business, results of operations and financial condition. Except as required by law, the Company undertakes no obligation to publicly revise or update any forward-looking statements for any reason.

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SOURCE KBR, Inc.

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