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HOUSTON - Engineering firm KBR (NYSE:KBR), with a market capitalization of $6.05 billion and impressive revenue growth of nearly 13% over the last twelve months, announced Tuesday it has secured a contract to provide front-end engineering design services for Kuwait Oil Company’s (KOC) heavy oil program at the South Ratqa field.
Under the agreement, KBR will deliver FEED and associated services for Phase 1 of the project, which forms part of KOC’s broader Heavy Oil Program aimed at enhancing Kuwait’s energy security.
Jay Ibrahim, President of KBR Sustainable Technology Solutions, said the company is "honored by KOC’s longstanding trust" and committed to supporting "this strategic project that aims to transform the future of Kuwait’s energy security."
The project aligns with KOC’s long-term strategy to promote energy affordability and national prosperity, according to the press release statement.
KBR, which employs approximately 38,000 people worldwide and operates in over 29 countries, has provided oil and gas engineering solutions globally for more than 100 years.
The company did not disclose the financial terms or timeline for the contract.
In other recent news, KBR has announced several significant developments. The company has secured a Program Management Consultancy services contract from Abu Dhabi Transmission Company for Phase 1 of TAQA Transmission’s Nexus Scheme, focusing on power and water projects. Additionally, KBR has extended its engineering, procurement, and construction management contract with Basra Oil Company for the Majnoon Oil Field in Iraq for another two years. This extension aims to sustain production capacity and improve operational efficiency.
Furthermore, KBR has been awarded a front-end engineering design contract for an ammonia and urea production plant in Basra, Iraq, by KAR Electrical Power Production Trading FZE. The plant will feature a 2,300 metric tons per day ammonia production facility and a 3,850 metric tons per day urea production unit. In Azerbaijan, KBR’s joint venture with SOCAR has secured two contracts from BP, focusing on engineering design and procurement services for the Sangachal Terminal Electrification project and the Shah Deniz compression gas field project. Lastly, KBR announced that Chief Operating Officer Byron Bright will resign, effective July 11, 2025, after 15 years with the company.
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