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HOUSTON - Engineering firm KBR (NYSE:KBR), a $6.1 billion market cap company currently trading near its 52-week low, announced Monday it has secured a Program Management Consultancy services contract for Phase 1 of Abu Dhabi Transmission Company’s (TAQA Transmission) Nexus Scheme for power and water projects.
Under the agreement, KBR will manage the execution of various engineering, procurement and construction packages across multiple locations in Abu Dhabi. The company will oversee supply management and associated infrastructure development for the power and water transmission networks.
The Nexus Scheme represents a strategic investment by TAQA to address rising energy demands in the United Arab Emirates while focusing on sustainable operations, according to the press release.
"We are pleased to support TAQA Transmission on Project Nexus, which is a strategic investment in the innovation and digital transformation of operations and assets to meet rising energy demands sustainably," said Jay Ibrahim, KBR President of Sustainable Technology Solutions.
KBR, which employs approximately 38,000 people worldwide and operates in over 29 countries, provides science, technology and engineering solutions to governments and companies globally.
The financial terms of the contract were not disclosed in the announcement.
In other recent news, KBR announced a two-year extension of its engineering, procurement, and construction management contract with Basra Oil Company for the Majnoon Oil Field in Iraq. This extension aims to sustain production capacity and improve operational efficiency. KBR also secured a front-end engineering design contract for an ammonia and urea production plant in Basra, Iraq, awarded by KAR Electrical Power Production Trading FZE. The project includes a 2,300 metric tons per day ammonia production facility and a 3,850 metric tons per day urea production unit.
Additionally, KBR’s joint venture with Azerbaijan’s SOCAR received two engineering contracts from BP for projects in Azerbaijan, focusing on the Sangachal Terminal Electrification and the Shah Deniz compression gas field projects. In corporate developments, KBR’s Chief Operating Officer, Byron Bright, announced his resignation effective July 11, 2025, after 15 years with the company. Furthermore, UBS downgraded KBR from Buy to Neutral, citing concerns about the company’s government-focused Mission Technology Solutions segment. These developments reflect a mix of contract wins and internal changes at KBR.
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