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KBR SOCAR JV win second Azerbaijan contract

KBR, Inc. (NYSE: KBR) announced today that its joint venture with SOCAR was awarded a second program management consultancy contract for the Azerikimya Production Union of the State Oil Company of Azerbaijan.

This award marks the second award to the joint venture, SOCAR-KBR Limited Liability Company (SOCAR-KBR LLC), since its inception in mid-2015. SOCAR-KBR LLC was formed to help further Azerbaijan’s ambition for creating a world-class Azerbaijan based engineering company. SOCAR-KBR LLC will build upon KBR’s more than 20 years of project experience in Azerbaijan to perform program management services from its established offices in Baku for the Azerikimya modernization project.

Addressing the audience at the contract signing ceremony, Rovnag Abdullayev, SOCAR’s President, said, “The modernization project will make it possible to increase the production facilities at Azerikimya, ensure the supply of raw materials to polyethylene and polypropylene production installations and to meet the demand in the country. It will also increase the country’s export potential, enhance the security of the technological process and the quality of raw materials and finished products.”

“SOCAR-KBR LLC, combines KBR’s extensive experience in the oil and gas sector with SOCAR’s strong vision and leadership in the region to perform the program management role for this key project for Azerikimya,” said Jan Egil Braendeland, SOCAR KBR LLC Board Member and KBR Executive Vice President of Global Sales. “We have passionate and talented Azerbaijani and international team members who are dedicated to Azerbaijan and our partner SOCAR and I am confident SOCAR KBR LLC will deliver successfully on this project and others in region,” Braendeland continued.

The value of the contract is undisclosed and will be booked into the backlog of unfilled orders for KBR’s Engineering & Construction business segment in Q4 of 2016.

About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Hydrocarbons and Government Services Sectors. KBR employs over 31,000 people worldwide, with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:

Government Services, serving government customers globally, including capabilities that cover the full life-cycle of defence, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics.

Technology & Consulting, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining; gasification; oil and gas consulting; integrity management; naval architecture and proprietary hulls; and downstream consulting

Engineering & Construction, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU) and program management

Source:  www.kbr.com