Corporate News Blog - KBR Awarded $441M US Navy Base Operating Support Contract; Set to Expand its Offerings in Djibouti and Camp Simba, Kenya
LONDON, UK / ACCESSWIRE / September 13, 2017 /Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for KBR, Inc. (NYSE: KBR), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=KBR. The Company announced on September 11, 2017, that its global Government Services Business, KBRwyle, has bagged a $441 million contract for base operations support services by Naval Facilities Engineering Command (NAVFAC) Atlantic. The Company will perform its services primarily at Naval Support Facility Camp Lemonnier, Djibouti; Chabelley Airfield, Djibouti; and Camp Simba in Manda Bay, Kenya. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Under the terms of the contract, KBRwyle will deliver a spectrum of support in multiple areas where the contract has a one-year base period and seven one-year options. The Company has been providing base operating support services for the US Navy at Camp Lemonnier, the largest US base in Africa, since 2013. KBRwyle holds over 15 million without a lost-time incident. Prior to 2013, the Company held the original Djibouti base operating support services contract from 2003 to 2007.
KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. The Company employs over 34,000 people, with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses which are: (i) Government services, (ii) Technology and Consulting services, and (iii) Engineering and Construction Services, including onshore oil and gas.
The Feasibility Study Contract
KBR received a contract from Kumul Petroleum Holdings Ltd on August 31, 2017, for the conceptual development and feasibility study services for an energy hub in the Kikori region of the Gulf Province of Papua New Guinea. Under the terms of the contract, KBR would provide location and technology screening studies for a mid-scale LNG liquefaction and regional export facility, 180 MW power generation facility, methanol process facility, and a condensate stabilization, storage, and regional export facility.
This award was consecutively the seventh strategic study awarded to KBR in 2017, for projects in South East Asia and Australia, demonstrating the Company's strong regional expertise across onshore LNG and FLNG solutions, existing LNG plant, and receiving terminal expansions. The Company, for more than 40 years, has led the concept development, study, design, and construction of over 40% of the world's LNG facilities.
The Project Management Services Contract (PMC)
KBR announced on August 21, 2017, that it was awarded a PMC contract by OMV Offshore Abu Dhabi GmbH on behalf of Abu Dhabi National Oil Co., for management of the Front End Engineering Design phase of the Hail & Ghasha Development project in Abu Dhabi, UAE.
The Company will also perform PMC services for the Detailed Engineering phase of the project under a contract awarded by Occidental of Abu Dhabi Ltd. Under the terms of the contract, KBR would provide project management consultancy services where the work is expected to be performed over 24 months. The infrastructure requirements for the project included a minimum of 11 offshore artificial islands to be designed and constructed, according to the Company.
Last Close Stock Review
KBR Inc.'s share price finished yesterday's trading session at $17.54, advancing 2.51%. A total volume of 1.11 million shares have exchanged hands. The Company's stock price rallied 17.56% in the last three months, 23.96% in the past six months, and 20.22% in the previous twelve months. Additionally, the stock gained 5.09% since the start of the year. Shares of the Company have a dividend yield of 1.82% and currently have a market cap of $2.60 billion.
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