KBR finishes up Yemen LNG Plant, receives change orders

Source: KBR

KBR (NYSE: KBR) has received final change order agreements with its joint venture partners Technip of France and JGC Corporation of Japan, for the Yemen LNG Plant

The contract on this lump-sum turnkey project, valued at more than $2 billion, was first announced in September 2005. As announced in KBR’s First Quarter 2010 Earnings Call, Train 2 of the Yemen project achieved ready for start-up status on March 12 and care, custody and control of the project has been turned over to the client. The final change order agreements generate KBR after tax income of approximately $27 million or $0.17 of earnings per diluted share. 

“KBR has been in negotiation of these change orders since late 2009. Receipt of these change orders is a significant project milestone and we are pleased to have concluded our work to engineer and construct this plant,” said Mitch Dauzat, President, KBR Gas Monetization. “We will now focus our attention on completing our project punch list and other related activities as we prepare to demobilize from the site.”

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs