kbr inc (KBR) Key Developments
KBR Wins Construction Contract for Flint Hills Resources' Project Eagle Ford
Apr 10 15
KBR announced that it has been awarded a reimbursable contract by Flint Hills Resources for the modification and expansion of its Corpus Christi West refinery. Under the terms of the contract, KBR will provide construction management and direct hire construction services at Flint Hills Resources' Project Eagle Ford. This work is expected to be performed in phases over the next three years and is in addition to a previously announced contract for construction advisory services being performed as the client completes the front end engineering and detailed design phases of the project. KBR personnel have been, and will remain, fully integrated with the client and a multitude of other contractors on the project.
KBR, Inc. to Pay $130,000 Penalty over Whistleblowers Dispute
Apr 1 15
KBR Inc. has agreed to pay a $130,000 penalty for what regulators say could have been efforts to silence potential whistleblowers. The Securities and Exchange Commission announced the action against KBR Inc. The SEC says KBR, without admitting or denying the charges, agreed to stop using improperly restrictive language in certain confidentiality agreements about internal investigations. Regulators say employees were warned they could face discipline or be fired if they discussed matters with outside parties without KBR's legal department approval. The SEC says the company has since added language to make clear that employees are free to report possible violations without KBR approval or fear of retaliation.
KBR and SOCAR Announce New Engineering Joint Venture in Azerbaijan
Mar 27 15
KBR, Inc. announced that it has signed a joint venture (JV agreement with the State Oil Company of Azerbaijan Republic (SOCAR o establish a new engineering and support services company in Azerbaijan. With support from KBR and SOCAR, the new company will provide design, engineering, technical, procurement, construction supervision and project management service for projects across the upstream, midstream and downstream oil and gas sectors, primarily in the Republic of Azerbaijan. The company will also prepare technical requirements for all stages of a project, including project management, contract supervision, planning and cost control. Additionally, it will train and develop the local workforce and supervise contractors throughout all stages of a project - from startup through construction and into performance testing.
KBR, Inc. Announces Retirement of W. Frank Blount from the Board of Directors Effective May 14, 2015
Mar 18 15
KBR, Inc. announced that W. Frank Blount will be retiring from the KBR Board of Directors effective May 14, 2015.
KBR Wins Saudi Aramco Offshore Project Management Services Contract
Mar 16 15
KBR, Inc. announced that it has been awarded a project management contract by Saudi Aramco to provide project management services for Saudi Aramco's offshore program. Under the terms of this six-year contract, KBR will provide project management and engineering services for existing and new offshore facilities to maintain and increase crude production levels to meet Saudi Aramco's maximum sustained capability for production under the company's capital program. Additionally, KBR-AMCDE will develop an in-kingdom center of engineering excellence to develop and train Saudi engineers.