HOUSTON, March 24, 2022 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it has secured a contract from a leading midstream company for a world-scale olefins production facility to be built on the U.S. Gulf Coast.
Under the terms of the contract, KBR will provide the license and engineering for the olefins production plant. KBR's K-COTTM catalytic olefins technology is the key enabler that can process a wide range of feedstocks to achieve exceptional olefin yields and production ratios in a single train with the most capital and carbon efficient design. The combination of K-COT and SCORETM steam cracking technology will deliver the most innovative design, support energy transition and advance refining-petrochemical integration opportunities in the U.S. Gulf Coast.
"We are excited to support our client's vision for this ambitious petrochemical venture," said Doug Kelly, KBR President, Technology. "Along with meeting their objective to address growing light olefins demand, our technologies will deliver leading decarbonization techniques and provide the platform to incorporate plastics circularity into the project plans."
Based on KBR's K-COT and SCORE technology, the planned project will provide the owner and their partners an opportunity to develop on existing infrastructure. The project will utilize available and advantaged feeds to produce 2.4 million metric tons per year of light olefins, while being supported by an extensive logistics network for feedstock supply and product delivery.
About KBR
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 28,000 people performing diverse, complex and mission critical roles in 34 countries.
KBR is proud to work with its customers across the globe to provide technology, value-added services, and long- term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.
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Forward Looking Statement
The statements in this press release that are not historical statements, including statements regarding future financial performance, 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 significant adverse impacts on economic and market conditions of the COVID-19 pandemic and the company's ability to respond to the resulting challenges and business disruption; the recent dislocation of the global energy market; the company's ability to manage its liquidity; 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; 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; the possibility of cyber and malware attacks; 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 company.
The company's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. Securities and Exchange Commission filings discuss some of the important risk factors that the company has identified that may affect its business, results of operations and financial condition. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
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SOURCE KBR, Inc.
