, KBR Inc
) announced that it has received a contract from
Subsea 7 SA
) 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
Chicago Bridge & Iron
), both carrying a Zacks Rank #2 (Buy).
AECOM TECH CORP (ACM): Free Stock Analysis
CHICAGO BRIDGE (CBI): Free Stock Analysis
KBR INC (KBR): Free Stock Analysis Report
SUBSEA 7 SA (SUBCY): Free Stock Analysis
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