KBR's Phenol Technology Selected by SABIC Fujian Petrochemicals

HOUSTON, April 22, 2024 /PRNewswire/ -- KBR (NYSE: NYSE:KBR) announced today it has been awarded a contract by SABIC Fujian Petrochemicals to license KBR's market-leading phenol technology in China.

Under the terms of the contract, KBR will provide technology licensing and proprietary engineering design for a 250 KTA phenol plant at SABIC's Fujian Petrochemical Complex. The final investment decision for this project was announced in January 2024 with expected completion in  FY 2026. KBR's phenol technology offers a sustainable and differentiated solution through reduced energy consumption and improved yields.

"We are excited to offer our industry leading phenol technology to SABIC Fujian for this ambitious project in China," said Jay Ibrahim, President, KBR Sustainable Technology Solutions. "KBR's market-leading phenol technology increases our customers' competitive advantage and advances their sustainability objectives through superior efficiency, reliability, wastewater recovery and performance."

KBR is a global technology licensor and has offered its leading phenol technology for more than six decades, completing more than 50 phenol projects worldwide.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 34,000 people worldwide with customers in more than 80 countries and operations in over 30 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

About SABIC Fujian Petrochemicals

SABIC Fujian Petrochemicals Co., Ltd. is a joint venture between SABIC Industrial Investment Company (wholly owned by SABIC) and Fujian Fuhua Gulei Petrochemical Co., Ltd. (held by Fujian Energy and Petrochemical Group). Formed in 2022, SABIC Fujian Petrochemicals Co., Ltd. is a 51:49 joint venture with SABIC being the majority owner. On January 22, 2024, SABIC announced the final investment decision for the SABIC Fujian Petrochemical Complex (Sino-Saudi Gulei Ethylene Complex Project) and plans to begin construction this year and expects to complete construction in 2026. The complex is the largest single investment joint venture project with foreign investment in Fujian Province to date.

Forward Looking Statements

The statements in this press release that are not historical statements, including statements regarding project completion, performance and outcomes, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties, and assumptions, 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, uncertainties and assumptions include, but are not limited to, those set forth in the company'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, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties, and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.