KBR, Inc.: KBR Awarded Design Contract for Large Heavy Lift Semisubmersible
FOR IMMEDIATE RELEASE
February 4, 2014
HOUSTON -- KBR (NYSE:KBR) announced today it has been awarded a contract for
the basic design development for Heerema Offshore Services' large new
semisubmersible crane vessel (NSCV) through its subsidiary GVA. A member of
KBR's Hydrocarbons Business Group, GVA completed seven months of feasibility
and conceptual studies on the NSCV in 2013. The basic design phase of the new
vessel will cover the major part of 2014.
Expected revenue from the contract will be included in the 2013 fourth quarter
backlog of unfilled orders for the Hydrocarbons segment.
"Heerema's selection of GVA as a partner in their development of this new
heavy lift vessel demonstrates confidence in GVA's capability, experience and
skills for such a challenging and strategically important project," said Roy
Oelking, KBR Hydrocarbons Group President. "We see this as the start of a
long-lasting partnership between Heerema and GVA, and are committed to
supporting Heerema on future development projects."
Designed for operations worldwide, the self-propelled vessel will meet
Heerema's priority requirements for maximized transit speed. The vessel will
be approximately 200 meters long by 97 meters wide and will have a lifting
capacity of 2 x 10,000 metric tons.
Additionally, the NSCV hull configuration will feature a large deckbox on an
eight-column structure mounted on two pontoons. The vessel design will meet
the highest health and safety standards with minimal environmental impact
during fabrication and operation, Oelking said.
GVA, a KBR company, is a world-leading marine and offshore engineering and
technology company and a part of KBR's Hydrocarbon Business Group. GVA has
more than 40 years of experience in the design and construction of floating
offshore units, where the key areas are drilling, production and accommodation
units. More than 50 percent of all newly-built, semisubmersible production and
accommodation units worldwide are designed by GVA.GVA's headquarters and main
operations are located in Gothenburg, Sweden, with subsidiary operations in
Houston, as well as sales offices in Rio de Janeiro and Singapore. For more
information, visit www.gvac.se.
KBR is a global engineering, construction and services company supporting the
energy, hydrocarbons, power, industrial, civil infrastructure, minerals,
government services and commercial markets. For more information, visit
NOTE: The statements in this press release that are not historical statements,
including statements regarding future financial performance and backlog
information, are forward-looking statements within the meaning of the federal
securities laws. These statements are subject to numerous risks and
uncertainties, many of which are beyond the company's control that 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:
the outcome of and the publicity surrounding audits and investigations by
domestic and foreign government agencies and legislative bodies; potential
adverse proceedings by such agencies and potential adverse results and
consequences from such proceedings; the scope and enforceability of the
company's indemnities from Halliburton Company; changes in capital spending by
the company's customers; the company's ability to obtain contracts from
existing and new customers and perform under those contracts; structural
changes in the industries in which the company operates, escalating costs
associated with and the performance of fixed-fee projects and the company's
ability to control its cost under its contracts; claims negotiations and
contract 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 government regulations and
regulatory requirements; compliance with laws related to income taxes;
unsettled political conditions, war and the effects of terrorism; foreign
operations and foreign exchange rates and controls; the development and
installation of financial systems; increased competition for employees; the
ability to successfully complete and integrate acquisitions; and operations of
joint ventures, including joint ventures that are not controlled by the
KBR's Annual Report on Form 10-K dated February 20, 2013, Form 10-Q for the
quarters ended March 31, 2013, June 30, 2013, and September 30, 2013, recent
Current Reports on Forms 8-K, and other Securities and Exchange Commission
filings discuss some of the important risk factors that KBR has identified
that may affect the business, results of operations and financial condition.
Except as required by law, KBR undertakes no obligation to revise or update
publicly any forward-looking statements for any reason.
For more information contact:
Investor Relations and Communications
Director, Corporate Communications
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The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: KBR, Inc. via Globenewswire
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