HOUSTON, April 30, 2018 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) announced today that it has been awarded a contract by Saudi Arabian Oil Company (Saudi Aramco) and SABIC as the second Project Management Contractor (PMC) to provide Pre-Front End Engineering Design (Pre-FEED), Front End Engineering Design (FEED) and Program Management Services to develop the world's largest fully integrated Crude Oil to Chemicals (COTC) complex. The project, which will be located in the Kingdom of Saudi Arabia, will be executed from KBR's Houston, Al-Khobar and Chennai offices and is expected to continue through to the start-up of the facility in 2025.
The COTC complex will be based on advanced refining technologies, innovative process configurations and proven conversion technologies that will create a fully integrated petrochemical complex which maximizes chemicals, further diversifying the petrochemical feedstock mix in the Kingdom.
"We understand the strategic importance of the long term investment that Saudi Aramco and SABIC are undertaking in this project and the pivotal role that KBR will have in the overall success of this important program," said Stuart Bradie, KBR President and CEO. "We are excited to have the opportunity to continue our proud legacy in the Kingdom of Saudi Arabia to deliver such 'giga-projects'."
"Given the rapidly changing economic environment we are faced with today, it has never been more important to create meaningful jobs for the growing Saudi population," said Jay Ibrahim, President of KBR Europe, Middle East, Africa and Asia-Pacific. "Through this contract, we will continue our commitment to meeting the objectives of both the In Kingdom local content and Vision 2030 programs."
This award reinforces KBR's position as a market leader in the hydrocarbons industry with a long track record of delivering across all phases of refining and petrochemical mega-projects.
Date: Apr 30, 2018