KBR Inc. has been contracted by BP International Limited (BP) to deliver engineering, procurement, and construction management (EPCM) services for three years with an option for an additional two years. In a media release, KBR said the scope of work includes EPCM services for onshore, offshore, greenfield, and brownfield conventional energy projects and new energy sector projects worldwide.
“We are delighted to continue our 70-year successful working relationship with BP while maintaining our record of safely and effectively delivering quality projects in conventional and new energy sectors”, Jay Ibrahim, President of KBR Sustainable Technology Solutions, said.
“This global agreement with BP will involve multiple project teams collaborating from offices in Houston, Baku, India, Abu Dhabi, Oman, Singapore, Perth, and London, leveraging KBR’s proven ability to deliver complex projects anywhere in the world”.
KBR said it currently has a global agreement with BP for engineering services. Under the deal, KBR said it has played a major role in BP’s projects in the United States, North Sea, Iraq, Africa, and Azerbaijan.
“This additional global agreement expands the opportunity for EPCM services and demonstrates our successful partnership and support to BP’s expanding portfolio”, KBR said in its statement.
Earlier this month KBR made changes to its business segments, renaming the Government Solutions (GS) segment to Mission Technology Solutions (MTS). The other operating business segment, Sustainable Technology Solutions (STS), will retain its name. The company said that the legacy GS International business unit has been dropped, with its elements integrated into both MTS and STS.
The company said the changes reflect KBR’s mission-critical capabilities spanning space, defense, national security, and its expanding commercial markets.
The realigned organization will not be effective until fiscal year 2025, KBR said. It added that it expects revenue compound annual growth rate (CAGR) for the two business segments to range between 11 percent and 15 percent until 2027.
Source: By Paul Anderson from rigzone.com