KBR, Inc. (NYSE: KBR) announced today that its UK operating subsidiary has been awarded a Front End Engineering Design (FEED) contract by BP for Phase 1 of the Tortue field Hub/Terminal development located on the maritime border between Senegal and Mauritania. The agreement contains a mechanism to allow transition of the contract to an Engineering, Procurement and Construction Management (EPCM) contract at a later date.
Under the terms of the contract, KBR will provide management of the Quarters and Utilities (QU) including Telecoms Systems FEED and provision of supplemental services (system engineering, interface oversight, technology planning, support and verification) of the Hub/Terminal for the Tortue project in Senegal and Mauritania. The FEED work is to be performed up to the end of 2018 to support the FID. Local content was carefully considered as part of the regular contract evaluation process, and will continue to be closely reviewed to identify potential opportunities during KBR FEED engineering work.
"We are proud to continue to be part of this significant project providing this technical assurance and facilities integration role to BP," said Jay Ibrahim, KBR President, Europe, Middle East and Africa and Asia-Pacific. "This win is indicative of KBR's strategic commitment to our partner BP, building on concept work done by our subsidiary Granherne, and then the Pre-FEED that was executed by KBR and now to this FEED award."
Estimated revenue associated with this project will be booked into backlog of unfilled orders for KBR's Hydrocarbons Services Business segment in the fourth quarter of 2018.
Source: Markets Insder
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