|Project Expected to Help Alleviate Current Electricity Problems in Iraq|
HOUSTON - Thursday, December 6th 2012 [ME NewsWire]
(BUSINESS WIRE)-- KBR (NYSE: KBR) today announced that it has been awarded the Mansuriya Full Field Development contract to perform front end engineering and design (FEED) studies and Quality Control Support Services (QCSS) for the Turkish Petroleum Overseas Company (TPOC), a wholly owned subsidiary of Turkish Petroleum Corporation (TPAO), in Diyala Province, Republic of Iraq. The Mansuriya project is expected to help alleviate current problems with intermittent electricity experienced in Iraq by supplying fuel to power stations and feedstock for industrial plants.
KBR will perform FEED studies and QCSS during the EPC phase for the field’s production and export systems, which systems extend from immediately downstream of the well up to and including the road-loading gantries at the liquefied petroleum gas storage and loading facility and sulphur bagging and storage. The FEED study and QCSS are designed to help TPOC start the first gas production in mid-2015 and help raise the Mansuriya field raw gas production to receive a plateau level of approximately 320 MMscf/d net dry gas by mid-2017, which is expected to be maintained for an estimated period of 13 years.
Services for the project will be based out of KBR’s offices in London and Jakarta. KBR’s Baghdad office will play a role in supporting local employee content for the project. The project is expected to be completed in 2017.
"The Mansuriya project builds upon KBR’s long-standing commitment to serve Iraq and further solidifies our position as a premier contractor in the Middle East,” said Khaled Abu-Nasrah, President, Middle East Region. "KBR brings the experience and expertise of working in logistically challenging areas like Diyala, so we are able to successfully navigate issues to help TPOC meet its first gas date. I am confident that KBR’s successful execution of this project will position us for additional services in Iraq and throughout the region.”
Mansuriya participating interests are: TPAO (operator –37.5%), Oil Exploration Company (25%), Kuwait Energy (22.5%) and Korea Gas Corporation (15%).
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.
Zac Nagle, 713-753-5082
Investor Relations and Communications
Director, Corporate Communications
Media Relations Hotline: 713-753-3800