KBR Awarded 20 Year Contract to Deliver Major UK Nuclear Decommissioning Program

HOUSTON, May 16, 2019 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) announced today it has been selected by Sellafield Ltd – owned by the UK Government's Nuclear Decommissioning Authority – to act as one of its delivery partners on a major infrastructure program to manage the safe and secure decommissioning of the Sellafield nuclear site. The program, which has a total value of up to £4.5bn, will be performed over 20 years.

The Framework Contract under which call offs for work will be issued comprises reimbursable project and program management services in support of Sellafield Ltd's major construction projects and infrastructure development required in support of its decommissioning program. KBR revenue associated with this program is worth up to a value of £500m.

Under the terms of the contract KBR will provide program and project management expertise and will deliver project specific delivery plans for all major projects at Sellafield during the contract term including mobilization of resources, coordinating logistical requirements and defining delivery strategies.  KBR will also coordinate the development of an integrated management system and provide project controls, procurement management, estimating, quantity surveying, risk management, document controls and commercial services.

"This is a truly significant program of work and this win adds to KBR's expanding portfolio of program management contracts in the UK," said Stuart Bradie, KBR President and CEO. "As a pioneer of collaborative working and forging strong alliances, KBR is delighted to have been selected to partner with Sellafield on this enduring project, which will place us at the heart of the customer's delivery team."

As the integration partner KBR will collaborate with the client and three other Program and Project Partners (PPP) to form an integrated delivery team. All the partners will work with the supply chain to improve capability, enhance project delivery, support social value and local economic development and contribute to the UK industrial strategy and nuclear sector deal.

This long term contract will support the transformation of Sellafield into a world leader in environmental remediaton. 

KBR has a strong track record of supporting nuclear programs in the UK. KBR has also been delivering services to EDF Energy's NNB Genco and to Framatome on the Hinkley Point C nuclear power station construction project in the South West of England since 2016.

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 37,500 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:

• Government Solutions, serving government customers globally, including capabilities that cover the full lifecycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics
• Technology Solutions, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining and gasification
• Energy Solutions, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU); program management and consulting services

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.

Visit www.kbr.com

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.