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KBR JV Awarded Contract by BP Exploration to Reduce Carbon Footprint of Shah Deniz Alpha Power Supply

KBR

HOUSTON, June 20, 2022 /PRNewswire/ -- KBR (NYSE: KBR) announced today its SOCAR-KBR joint venture has been awarded a front-end engineering design (FEED), turnaround engineering, and procurement support services contract by BP Exploration for the Shah Deniz Alpha (SDA) platform in Azerbaijan.

KBR, Inc. (PRNewsfoto/KBR, Inc.)

This project will significantly reduce SDA's overall carbon footprint and increase operational efficiency, providing a robust, long-term, high-availability power supply. SOCAR-KBR will be responsible for the FEED services for decommissioning the existing five main power generators on the SDA platform. They will then create a power supply from the KBR-designed Shah Deniz Bravo platform through subsea cables and a back-up power generator.

"KBR has been working in the Azerbaijan-Georgia-Turkey region since 1993, which gives us unrivaled expertise with on- and off-shore greenfield and brownfield assets," said Jay Ibrahim, president of KBR Sustainable Technology Solutions. "Our SOCAR-KBR joint venture allows us to combine KBR's proven tools, systems, procedures and project track record in the region with SOCAR's operations knowledge and experience in the energy sector."

This project will be delivered from SOCAR-KBR's Baku office to maximize local execution, with specialist subject matter expert support provided from KBR's London operations. KBR is proud that more than 95% of its current Baku-based SOCAR-KBR team are Azerbaijani engineers.

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.

Visit www.kbr.com

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.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/kbr-jv-awarded-contract-by-bp-exploration-to-reduce-carbon-footprint-of-shah-deniz-alpha-power-supply-301570902.html

SOURCE KBR, Inc.

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