KBR Establishes GES+ (General Engineering Services +) Entity in Saudi Arabia
February 09 2012 - 8:14AM
Business Wire
KBR (NYSE: KBR) today announced that it has completed the
registration and licensing of a new entity to carry out general
engineering and project management services under the Saudi Arabian
Oil Company (Saudi Aramco) GES+ initiative.
As part of completing the GES+ initiative, KBR acquired the
business of Abdulhadi and Al-Moaibed Consulting Engineering Co.
(AMCDE), a Saudi owned professional engineering company, and
officially formed KBR-AMCDE. KBR will hold a 67% interest in this
new entity. This new entity will provide front-end engineering and
design (FEED), detailed design, procurement and project management
services for Saudi Aramco. Initial staffing of the KBR-AMCDE
enterprise is approximately 400 people.
KBR-AMCDE will perform the GES+ work under a five-year
contract in support of Saudi Aramco’s Capital Program. This work
will be performed from the KBR-AMCDE offices in Al-Khobar, Saudi
Arabia. KBR also expects, over time, to use the KBR-AMCDE
enterprise to perform engineering work outside the hydrocarbons
sector in Saudi Arabia.
“The newly formed KBR-AMCDE is proud to be selected for this
GES+ contract by Saudi Aramco. This work will reinforce the highly
valued client relationship with Saudi Aramco that KBR and AMCDE
developed through work on multiple prior projects,” said Khaled Abu
Nasrah, KBR President, Middle East. “The GES+ contract award to
KBR-AMCDE creates an opportunity for Saudi nationals to increase
their engineering and construction capabilities through the
utilization of KBR’s world class work processes, systems and
tools.”
KBR is a global engineering, construction and services company
supporting the energy, hydrocarbon, government services, minerals,
civil infrastructure, power, industrial, and commercial
markets. For more information, visit www.kbr.com.
KBR (NYSE:KBR)
Historical Stock Chart
From Apr 2024 to May 2024
KBR (NYSE:KBR)
Historical Stock Chart
From May 2023 to May 2024