HOUSTON - May 28, 2014 -- KBR (NYSE: KBR) has announced today that it has been awarded a contract by Maersk Oil for topsides front end engineering and design (FEED) for the Culzean Project. Maersk Oil UK and its co-venturers JX Nippon Exploration and Production (UK) Limited and Britoil (BP) have chosen a new standalone facility to develop the Culzean discovery.
The Culzean project development is an ultra high-pressure, high-temperature (uHPHT) gas condensate development located approximately 145 miles East of Aberdeen in the UK sector of the Central North Sea. The field development comprises of three platforms; wellhead platform (WHP), central processing platform (CPF) with flare tower and separate living quarters and utility platform (ULQ).
KBR will provide the FEED of the topsides for the three platforms. The contract additionally includes an option for the detailed design of the three topsides platforms plus follow-on engineering competency activities during the fabrication phase.
"We are excited to be working together with Maersk Oil to mature this important Gas Facility in the North Sea," said Roy Oelking, KBR Hydrocarbons Group President. "This award builds on the excellent relationship KBR and Maersk have developed through the previous successful Dan and Halfdan projects in the Danish sector North Sea."
Expected revenue from the contract will be included in the second quarter 2014 backlog of unfilled orders for the Hydrocarbons segment. The contract value was not disclosed.
About KBR
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 www.kbr.com.
Forward Looking Statement
KBR's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, 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.
Contact:
Investors
Zac Nagle
Vice President, Investor Relations and Communications
713-753-5082
Investors@kbr.com
Media
Richard Goins
Director, Corporate Communications
713-751-9471
Mediarelations@kbr.com
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Source: KBR, Inc. via Globenewswire
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