KBR Awarded Engineering Contract for BUA Group Project
KBR, Inc. (NYSE: KBR) has secured a contract to perform Front-End Engineering Design (FEED) for a new refinery facility in Nigeria for BUA Group. This contract builds on a successful feasibility study completed in 2018, reinforcing KBR's long-standing partnership with BUA. The refinery will enhance Nigeria's fuel production capabilities, decreasing reliance on imports. KBR emphasizes its commitment to sustainable technology solutions and aims to reduce greenhouse gas emissions. This award highlights KBR's leadership position in the engineering sector.
- Awarded contract for FEED of a new refinery facility in Nigeria.
- Strengthens relationship with BUA Group after prior successful feasibility study.
- Supports domestic fuel production, reducing reliance on imports.
- None.
HOUSTON, May 10, 2021 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) announced it has been awarded a contract to complete the Front-End Engineering Design (FEED) for BUA Group's new, modern refinery facility in Nigeria.
The award marks the continuation of a strong relationship with BUA Group, a leading agricultural and industrial chemicals conglomerate, after KBR successfully completed the conceptual feasibility study for the project in 2018.
The facility will support fuel production for Nigeria's domestic and regional markets, helping reduce the country's dependence on imported supplies. Elements of the work will include sulphur removal facilities, water treatment facilities to meet high level environmental standards, and heat integration to ensure long standing efficiency of production.
"KBR's Sustainable Technology Solutions business is committed to helping provide and shape sustainable and efficient solutions to its clients globally," said Jay Ibrahim, KBR President – Sustainable Technology Solutions. "This contract outlines our strong position as a market leader in this sector, and we are excited to continue working with BUA in this critical next phase of the project."
Sustainability is fundamental to all of KBR's activities, guiding our approach, and informing our global activities to support our people, our communities and our planet for future generations. We take great pride in our role supporting clients to advance their sustainable technologies, with the goal of ultimately reducing greenhouse gas emissions and our carbon footprint. At KBR, we continually strive to develop new technologies and solutions that benefit our planet.
About KBR
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 29,000 people worldwide with customers in more than 80 countries and operations in 40 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
About BUA Group
Established in 1988, BUA Group is one of Africa's largest diversified groups operating out of Nigeria with its key interests in foods, mining, manufacturing and infrastructure. Its vision is to unlock opportunities that will drive sustainable development whilst providing value to all stakeholders and the African continent.
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; the company's ability to respond to the challenges and business disruption presented by the COVID-19 pandemic; the recent dislocation of the global energy market; the company's ability to realize cost savings and efficiencies relating to the streamlining of its Energy Solutions business; the company's ability to manage its liquidity; the company's ability to continue to generate anticipated levels of revenue, profits and cash flow from operations during the COVID-19 pandemic and any resulting economic downturn; 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, including as a result of the COVID-19 pandemic; 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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SOURCE KBR, Inc.
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