HOUSTON, June 19, 2020 /PRNewswire/ -- KBR (NYSE: KBR) has signed a memorandum of understanding with L&T Hydrocarbon Engineering Ltd (LTHE) for refinery and petrochemical projects.
Under the terms of the agreement, KBR and LTHE will collaborate to develop business opportunities for which KBR will license proprietary technology and engineering services and LTHE will be the EPC provider. LTHE will exclusively bid for projects globally, with specific focus in India, South East Asia, the Middle East and Africa involving KBR's solid acid alkylation technology (K-SAATTM), solvent de-asphalting technology (ROSE®) and catalytic olefins technology (K-COTTM).
K-SAAT is KBR's next generation solid acid alkylation technology that provides high alkylate yield and high feed flexibility. KBR's solvent de-asphalting technology, ROSE, has more than 90% market share among solvent de-asphalting technologies. KBR's K-COT is a catalytic olefins technology that convert low-value olefinic, paraffinic or mixed streams into high-value propylene, ethylene and aromatics.
"This MoU brings together KBR's century-long technology expertise and LTHE's strong capability as a major EPC player and modular solution provider," said Doug Kelly, KBR President, Technology Solutions. "KBR's innovative and reliable process technologies have been helping refinery and petrochemical plants globally to optimize production and reduce operating costs."
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:
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 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.
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SOURCE KBR, Inc.