HOUSTON – November 6, 2018 – KBR, Inc. (NYSE: KBR) announced today that, after almost eight years of successfully delivering the Qatar Expressway Programme, the Ashghal Public Works Authority in Qatar has awarded KBR a contract extension to continue delivering program management services to the project.
Under the terms of the contract, KBR will provide a range of expertise including procurement, engineering, construction management, commercial management, project controls, QHSE and public relations. This work is expected to be performed over the next two years with one option year.
The new phase of the contract will see a transition in the way the Doha Expressway Programme is delivered. Going forward KBR experts will be embedded into Ashghal's organization to form a highly skilled and agile integrated client team working directly with the supply chain to deliver the next phase of this complex and challenging program. This phase of the project will be focused on construction management, closing projects out both technically and commercially, and handing assets over to the relevant authorities.
"Ashghal, working in partnership with KBR, has consistently delivered despite the hurdles, producing world class infrastructure that will benefit generations to come," said Dr. Eng. Saad Bin Ahmad Al-Muhannadi, President of Ashghal.
"It is a great testament to KBR that Ashghal has chosen us as their partner of choice and demonstrates how well the KBR team has consistently performed on a complex program under high pressure conditions," said Jay Ibrahim, KBR President, Europe, Middle East and Africa and Asia-Pacific. "We look forward to delivering the next phase of this mission-critical project and to delivering a world-class highway network for the State of Qatar."
The Expressway consists of more than 60 major projects to deliver 500 miles of new or upgraded roads and more than 200 interchanges as Qatar looks to deliver against its National Vision 2030 and in preparation for the 2022 FIFA World Cup. One of those projects that KBR is responsible for – the iconic Lusail Expressway – recently earned the prestigious designation as the 2018 Global Best Project within the Roads and Highway category by Engineering News Record (ENR).
About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Services and Hydrocarbons sectors. KBR employs approximately 34,000 people worldwide (including our joint ventures), with customers in more than 75 countries, and operations in 40 countries, across three synergistic global businesses:
- Government Services, serving government customers globally, including capabilities that cover the full lifecycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics
- Technology, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining and gasification
- Hydrocarbons Services, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU); program management and consulting services
KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.
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 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 its former parent; 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 company.
KBR'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 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.
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