LONDON, UK / ACCESSWIRE / January 18, 2018 / Active-Investors.com has just released a free research report on KBR, Inc. (NYSE: KBR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=KBR as the Company's latest news hit the wire. On January 16, 2018, the Company, a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors, declared that its joint venture with Azerbaijan's state oil Company SOCAR has been awarded two separate Front-End Engineering Design (FEED) contracts for the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijan sector of the Caspian Sea. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, KBR, Inc. most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Details of the Contract

  • The two contracts have been awarded for the Azeri Central East (ACE) platform, which is a new Production, Drilling, Quarters (PDQ) platform in the Azerbaijan sector of the Caspian Sea.
  • These contracts cover the provision of FEED services for the new platform along with the associated brownfield tie-ins to other existing platforms in the ACG field. Besides, there is a separate contract for the subsea services FEED.
  • KBR mentioned that the Caspian engineering team in London would lead these two projects with maximum local execution support from the Baku office. Several local engineers in Baku are working on projects under the SOCAR-KBR umbrella. In fact, currently, over 75% of the Baku based SOCAR-KBR team comprises Azerbaijani engineers.
  • It must be noted that the value of these contracts was booked into the backlog of unfilled orders for KBR's Engineering & Construction business segment in Q4 2017.

The SOCAR-KBR Joint Venture

In March 2015, KBR signed a joint venture agreement with the State Oil Company of Azerbaijan Republic (SOCAR) to set up a new engineering and support services Company in Azerbaijan - SOCAR-KBR Limited Liability Co. ("SOCAR-KBR").

The new Company provides design, engineering, technical, procurement, construction supervision, and project management services for projects across the upstream, midstream, and downstream oil and gas sectors, mainly in the Republic of Azerbaijan.

The joint venture was formed to help advance Azerbaijan's ambition for creating a world-class Azerbaijan based engineering company. The SOCAR-KBR joint venture brings together KBR's proven tools, systems, and procedures and project track record in the Azerbaijan, Turkey, and Georgia (AGT) region with SOCAR's operation knowledge and experience in the oil and gas sector. KBR has been working in the AGT region since 1993 and has completed more than 25 million man-hours of work with zero lost time incidents in this period.

Lined up Contracts for SOCAR-KBR

These two contracts are the 4th and 5th awards to the SOCAR-KBR joint venture since its inception. Previously, it had been awarded contracts from other regional and international clients.

On November 22, 2017, SOCAR-KBR was awarded the FEED contract for the topsides of the Absheron Early Production Project. The platform will be located at SOCAR's Oil Rocks facility and will deliver gas and condensate into the SOCAR network.

On November 07, 2016, SOCAR-KBR was awarded a program management consultancy contract for the Azerikimya Production Union of the State Oil Company of Azerbaijan and a significant project management consultancy (PMC) Contract for the Heydar Aliyev Baku oil refinery modernization project in Azerbaijan on March 08, 2016.

Stock Performance Snapshot

January 17, 2018 - At Wednesday's closing bell, KBR, Inc.'s stock climbed 1.63%, ending the trading session at $20.54.

Volume traded for the day: 1.64 million shares.

Stock performance in the last month - up 11.03%; previous three-month period - up 12.30%; past twelve-month period - up 22.55%; and year-to-date - up 3.58%

After yesterday's close, KBR, Inc.'s market cap was at $2.89 billion.

Price to Earnings (P/E) ratio was at 39.96.

The stock has a dividend yield of 1.56%.

The stock is part of the Services sector, categorized under the Technical Services industry. This sector was up 0.6% at the end of the session.

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