Press Release

HOUSTON – May 13, 2020 – KBR (NYSE: KBR) announced today that it has been awarded a Master Service Agreement (MSA) and Feasibility Study by JX Nippon Oil & Gas Exploration Corporation (“JX Nippon”), a leading integrated energy, resources and materials group in Japan.

Building on KBR’s strong and successful portfolio in this area, the study will assess options for Carbon Capture and Sequestration (CCS), alongside blue hydrogen production relating to oil and gas fields in South East Asia, a region where JX Nippon continues to expand on its global track record of CCS/CCUS projects.

KBR will provide technical consultancy services in relation to developing concepts and technology recommendations for the capture of CO2, reinjection, and production of blue (i.e. carbon free) hydrogen.

KBR will also evaluate the feasibility of conversion and transport of hydrogen in other forms for sale into the market, including liquified cryogenic hydrogen, liquid organic hydrogen carrier (LOHC), ammonia, and methanol (utilizing CO2).

This project will be led primarily from KBR’s consulting hub in Singapore, leveraging on the specialist skills of its wider strategic and advisory consulting and engineering groups. This includes a world leading cryogenic hydrogen team which works with NASA extensively on the storage, training and safe handling of hydrogen at extreme temperatures.

“We are excited to be a part of this significant project which is indicative of the global transition to more sustainable energy supplies and our ambition to grow and maintain a substantial presence in Asia Pacific”, said Jay Ibrahim, KBR President, Energy Solutions.

“Being given the opportunity to work on this study is indicative of KBR’s capabilities and skillsets across complex industrial assets and demonstrates our strategic commitment to sustainability, decarbonization, and the development of blue/green hydrogen as both the clean energy for the future, and foundation of a green chemical and product supply chain.”

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Solutions and Energy sectors. KBR employs approximately 37,000 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses: 

• Government Solutions, serving government customers globally, including capabilities that cover the full lifecycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics
• Technology Solutions, featuring proprietary technology, equipment, catalysts, digital solutions and related technical services for the monetization of hydrocarbons, including refining, petrochemicals, ammonia and specialty chemicals, as well as inorganics
• Energy Solutions, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU); program management and consulting services 

KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company’s control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company’s indemnities from its former parent; changes in capital spending by the company’s customers; the company’s ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company’s ability to control its cost under its contracts; claims negotiations and contract disputes with the company’s customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR’s most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

For further information, please contact:

Investors
Alison Vasquez
Vice President, Investor Relations
713-753-5082
Investors@kbr.com 

Media
Philip Ivy
Vice President, Global Communications and Marketing
713-753-3800
MediaRelations@kbr.com