KBR Project Management Expertise to Drive BP Global Hydrogen Projects

Rhea-AI Summary

KBR (NYSE: KBR) has been appointed as the primary integrated project management contractor for BP's global hydrogen project portfolio. This collaboration focuses on optimizing project phases and ensuring effective project delivery through KBR's Integrated Project Management Team (IPMT). The contract marks a significant step in supporting BP's transition to sustainable energy and its growth in the hydrogen sector. KBR's expertise and long-standing relationship with BP will play a vital role in delivering successful projects. The contract will commence under an existing global agreement with BP, showcasing KBR's commitment to enabling the energy transition.

Positive

• KBR appointed as primary contractor for BP's global hydrogen projects.
• Utilizes Integrated Project Management Team for effective delivery.
• Aligns with BP's strategic energy transition program.
• Enhances KBR's reputation in the sustainable energy market.

Negative

• None.

HOUSTON, April 5, 2023 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has been named the primary integrated project management contractor across BP's global hydrogen project portfolio.

KBR will utilize the collaborative work practices and experience of its Integrated Project Management Team (IPMT). The IPMT will provide services required for safe, effective and high-quality project delivery, including performance management of individual projects and relevant subcontractors.

The contract scope includes joint contribution to front-end, optimization and execution project phases as well as management support through construction, commissioning and startup for BP's global hydrogen projects. The contract will commence under the existing global agreement with BP.

"We are delighted to have been selected to play a part in BP's strategic energy transition program and to support their sustainable growth plans in the hydrogen sector," said Jay Ibrahim, president of KBR's Sustainable Technology Solutions business. "This contract award aligns with KBR's mission of providing our customers with differentiated, sustainable solutions that are enabling the energy transition. KBR is proud of its long-standing relationship with BP. By leveraging that relationship and our premier hydrogen domain expertise, we will continue to collaboratively deliver successful projects that support their business objectives."

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 30,000 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 Statements

The statements in this press release that are not historical statements, including statements regarding the company's performance of its contract with BP, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, 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, uncertainties and assumptions include, but are not limited to, those set forth in 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, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.  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.

FAQ

What is KBR's role in BP's hydrogen projects?

KBR has been named the primary integrated project management contractor for BP's global hydrogen project portfolio.

When did KBR announce its partnership with BP?

KBR announced the partnership on April 5, 2023.

What does the contract with BP include?

The contract includes management support through construction, optimization, and execution project phases for BP's hydrogen projects.

How does KBR support BP's energy transition?

KBR leverages its project management expertise to align with BP's sustainable growth plans in the hydrogen sector.

What is the significance of KBR's partnership with BP?

The partnership strengthens KBR's position in the sustainable energy market and showcases its commitment to delivering projects that support BP's objectives.