KBR JV Awarded Program Management Contract in Azerbaijan

KBR JV Awarded Program Management Contract in Azerbaijan

KBR, Inc. (NYSE: KBR) announced that its joint venture with SOCAR was awarded a second program management consultancy contract for the Azerikimya Production Union of the State Oil Company of Azerbaijan.

This award marks the second award to the joint venture, SOCAR-KBR Limited Liability Company (SOCAR-KBR LLC), since its inception in mid-2015. SOCAR-KBR LLC was formed to help further Azerbaijan’s ambition for creating a world-class Azerbaijan based engineering company. SOCAR-KBR LLC will build upon KBR’s more than 20 years of project experience in Azerbaijan to perform program management services from its established offices in Baku for the Azerikimya modernization project.

Addressing the audience at the contract signing ceremony, Rovnag Abdullayev, SOCAR’s President, said, “The modernization project will make it possible to increase the production facilities at Azerikimya, ensure the supply of raw materials to polyethylene and polypropylene production installations and to meet the demand in the country. It will also increase the country’s export potential, enhance the security of the technological process and the quality of raw materials and finished products.”

“SOCAR-KBR LLC, combines KBR’s extensive experience in the oil and gas sector with SOCAR’s strong vision and leadership in the region to perform the program management role for this key project for Azerikimya,”

said Jan Egil Braendeland, SOCAR KBR LLC Board Member and KBR Executive Vice President of Global Sales. “We have passionate and talented Azerbaijani and international team members who are dedicated to Azerbaijan and our partner SOCAR and I am confident SOCAR KBR LLC will deliver successfully on this project and others in region,” Braendeland continued.

The value of the contract is undisclosed and will be booked into the backlog of unfilled orders for KBR’s Engineering & Construction business segment in Q4 of 2016.

Source / more information on: KBR, Inc.

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