McDermott and KBR Enter Global Licensing Agreement for Ammonia

HOUSTON, Aug. 3, 2022 /PRNewswire/ -- McDermott International and KBR (NYSE: KBR) have entered into a global licensing agreement to provide integrated solutions for KBR's proprietary ammonia technologies. Ammonia produced from renewable or low-carbon sources, commonly referred to as green and blue ammonia, supports global decarbonization because it can be used to provide carbon-free fertilizers, as an energy carrier or as a fuel.

The agreement represents a compelling solution to meet the growing ammonia market which combines KBR's leading technology with McDermott's global execution capabilities and fabrication and modularization expertise.

"This agreement enables us to offer customers an integrated approach for low-carbon ammonia projects by combining KBR's best-in-class ammonia technology with our global project delivery know-how, low-carbon execution approach and leadership in ammonia storage solutions," said Tareq Kawash, Senior Vice President, Onshore, McDermott. "This technology partnership is an important addition to our growing energy transition portfolio and strengthens our concept-to-completion capabilities."

"We are pleased to enter into an alliance agreement with McDermott to deliver world-class energy transition projects based on KBR's leading ammonia technology," said Aman Ahmad, KBR Senior Vice President, Global Sales. "This agreement will enable KBR and McDermott to leverage each other's strengths to deliver exceptional value to our clients as they scale and accelerate their energy transition initiatives."

As part of the agreement, McDermott and KBR will jointly evaluate opportunities to provide modularized execution concepts to drive additional efficiencies tailored to the needs of green and blue ammonia projects.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

About KBR
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 28,000 people performing diverse, complex and mission critical roles in 34 countries.

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

Visit www.kbr.com

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected benefits of the agreement discussed in this press release. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott's management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

Contacts:

Global Media Relations
Reba Reid
Senior Director, Global Communications and Marketing
+1 281 588 5636 
RReid@McDermott.com

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SOURCE McDermott International, Ltd