KBR, Inc.: KBR Awarded Onshore Liquefied Natural Gas Portfolio Contract with
Shell Global Solutions International B.V.
HOUSTON --March 26, 2014-- KBR (NYSE: KBR) announced today that it has been
awarded an onshore liquefied natural gas portfolio contract by Shell Global
Solutions International B.V.
Under this agreement, KBR will develop pre-front end engineering and design
(pre-FEED) and FEED for Shell's worldwide LNG projects with an opportunity to
continue as the lead party in consortia for projects in the execution phase.
As part of this award, KBR and Shell will enter a long-term collaboration in
an integrated office established in KBR's London Greenford Operating Center,
taking advantage of KBR's prior execution experience with Shell and other LNG
"Winning this contract further demonstrates KBR's position as one of the
world's leaders in the development and construction of LNG plants and the
continuation of KBR's long relationship with Shell," said Ivor Harrington, KBR
Gas Monetization Group President.
This agreement expands on a 35-year relationship with Shell in LNG.
Initial revenues from the contract will be included in the second quarter 2014
backlog for the Gas Monetization segment, with further revenue included as
work is released. The initial and potential future contract values were not
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
Forward Looking Statement
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 27, 2014, 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.
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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