KBR
American engineering, procurement and construction company KBR Inc has announced solid Q1 2016 financial results. Net income attributable to KBR was $42mn. Consolidated revenue was $1bn.
“We are on track to achieve the year-end 2016 targets for at least $200mn in annual cost savings and to date, the company has identified and actioned more than $180mn of the savings target,” Stuart Bradie, president and chief executive officer of KBR, said.
KBR has had a strong presence in the Middle East for decades, working on several major petrochemical projects in Saudi Arabia, including providing Saudi Aramco with front-end engineering and design and project management services for the Jazan Refinery, the Yanbu Refinery and the Shaybah NGL programme.
The company is presently providing project management services to Saudi Aramco for its offshore programme. This six-year contract will see KBR provide services for Aramco’s capital program. KBR’s Saudi joint venture company, KBR-AMCDE, will undertake all in-kingdom work, while the Houston and London operations centres will execute all out-of-kingdom scopes. KBR-AMCDE is also developing an in-kingdom centre of engineering to train Saudi engineers.
