Saudi Aramco awarded KBR, Inc. (NYSE: KBR) a six-year project management contract to provide project management services for Saudi Aramco’s offshore program.
Under the terms of the contract, KBR will provide project management and engineering services for existing and new offshore facilities to maintain and increase crude production levels to meet Saudi Aramco’s maximum sustained capability for production under the company’s capital program. KBR’s Saudi joint venture company, KBR-AMCDE, will undertake all in-kingdom work scopes while KBR’s Houston and London operations centers will execute all out-of-kingdom scopes. Additionally, KBR-AMCDE will develop an in-kingdom center of engineering excellence to develop and train Saudi engineers.
Expected revenue from the contract will be included in 1Q2015 backlog for KBR’s engineering and construction segment.
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