KBR Receives Contract from Subsea 7 - Analyst Blog
April 08 2013 - 1:40PM
Zacks
Recently, KBR Inc. (KBR) announced that it has
received a contract from Subsea 7 SA (SUBCY) to
provide topsides design for the Chevron Lianzi development project.
The financial terms of the deal were not disclosed. KBR will manage
the project work from its Houston operating center and its Luanda
office in Angola.
The Chevron Lianzi development project is located offshore
Republic of Congo and Republic of Angola. The scope of the contract
involves laser scanning, Front end engineering and design (FEED)
certification, overall handling of the engineering and procurement
services, along with support in the manufacturing, installation,
pre-commissioning and commissioning phases of the project.
Headquartered in London, Subsea 7 is a seabed-to-surface
engineering, construction and services contractor to the offshore
energy industry worldwide.
Recently, KBR inked an agreement with the State Oil Company of
the Azerbaijan Republic (SOCAR). The contract entails KBR to
provide front-end engineering and design (FEED) services to the Gas
Processing Plant (GPP), located in the Oil-Gas Processing and
Petrochemical Complex (OGPC) in Azerbaijan.
The contract will be considered in KBR’s Hydrocarbon’s market,
which primarily engages in engineering, procurement and
construction services for large and complex upstream and downstream
projects, including LNG and GTL facilities, onshore and offshore
oil and gas production facilities, refining, petrochemicals,
biofuels and other projects throughout the world. The technology
segment revenue under the Hydrocarbon’s market grew 20% year over
year.
KBR currently carries a Zacks Rank #3 (Hold). Other stocks worth
a look in the services sector are AECOM Technology
Corp (ACM) and Chicago Bridge & Iron
(CBI), both carrying a Zacks Rank #2 (Buy).
AECOM TECH CORP (ACM): Free Stock Analysis Report
CHICAGO BRIDGE (CBI): Free Stock Analysis Report
KBR INC (KBR): Free Stock Analysis Report
SUBSEA 7 SA (SUBCY): Free Stock Analysis Report
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