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SOURCE KBR, Inc.
HOUSTON, March 1, 2018 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) announced today it has entered into an agreement to provide its proprietary technology Ammonia InSite® Technology to PT Panca Amara Utama (PAU) for the Sulawesi, Indonesia ammonia plant complex.
Ammonia InSite® Technology is a KBR integrated solution specifically designed to assist in maximizing the operational performance and profitability of ammonia plants through five modules specialized in management of production, energy efficiency, maintenance, reliability, and environmental compliance. The solution includes performance diagnostics and analytics, benchmarking, predictability of outcomes, and prevention of unplanned downtime, along with support from KBR experts.
Under the terms of the agreement, Ammonia InSite® will initially be used to support the successful start-up and commissioning of PAU's new ammonia plant complex, and will then support sustained plant operations to maximize asset utilization and profitability.
This award represents the addition of another innovative KBR technology at the 2000 MTPD ammonia plant which is using our Reforming Exchanger System and Purifier Technology. The plant is the first Greenfield Purifier + KRES Technology plant to be commissioned. KBR's propriety technology and equipment has demonstrated higher reliability and efficiency than conventional designs and offers the lowest proven energy consumption in the industry.
"We are delighted to have KBR with us not only as a technology licensor but also as a guide and trusted advisor in maximizing the potential of the new technology in its first implementation in the world," said Vinod Laroya, Vice President Director & CEO, Panca Amara Utama (PAU).
"KBR is pleased to have the opportunity to provide the Ammonia InSite® Technology to PAU," said John Derbyshire, President, KBR Technology and Consulting. "Ammonia InSite® provides a cost-effective collaborative service between PAU and KBR to ensure safe, reliable top-tier plant operations."
KBR Technology is a leader in providing know-how based solutions in support of its licensed process technologies for more than 35 years.
Revenue associated with this agreement was booked into backlog of unfilled orders for KBR's T&C Business Segment in Q4 of 2017.
About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. KBR employs approximately 34,000 people worldwide (including our joint ventures), with customers in more than 75 countries, and operations in 40 countries, across three synergistic global businesses:
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.
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 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.
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