Press Release

HOUSTON

- April 10, 2015 -

KBR announced today it has been awarded a reimbursable contract by Flint Hills Resources for the modification and expansion of its Corpus Christi West refinery.
Under the terms of the contract, KBR will provide construction management and direct hire construction services at Flint Hills Resources' Project Eagle Ford. This work is expected to be performed in phases over the next three years and is in addition to a previously announced contract for construction advisory services being performed as the client completes the front end engineering and detailed design phases of the project. KBR personnel have been, and will remain, fully integrated with the client and a multitude of other contractors on the project.

"We are excited to be a part of this significant project and to continue to grow and maintain a substantial presence in the Texas Gulf Coast region," said Stuart Bradie, KBR President and CEO. "This win is indicative of KBR's strategic commitment to maintaining a strong direct hire construction offering. We will provide Flint Hills Resources a construction team with proven experience, positioning ourselves as a partner in their success."

For more than 50 years, KBR has designed or constructed more than 1,000 refining units across the globe.

Revenue associated with the project is estimated to approximate $300 million and will be booked into backlog of unfilled orders for KBR's Engineering and Construction segment as individual work orders are received.

 

About KBR, Inc.
KBR, Inc. is a global technology, engineering, procurement and construction company serving the hydrocarbons and government services industries, employing about 25,000 people worldwide with customers in more than 70 countries and operations in 40 countries across three distinct global businesses:Technology & Consulting, including proprietary technology in refining, ethylene, ammonia and fertilizers, and gasification; and niche consulting and know-how through Granherne/Energo and GVA;Engineering & Construction, including Upstream Oil & Gas; LNG/GTL; Downstream Oil & Gas, Petrochemicals and Chemicals; and differentiated EPC; and,Government Services, including program management and long term annuity contracts.

KBR is proud to work with its customers across the globe to provide technology, value-added consulting services and integrated EPC skills to ensure a consistent project delivery with predictable results. At KBR, we deliver.

Visit www.kbr.com

 

Forward Looking Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements regarding our plans, objectives, goals, strategies, future events, future financial performance and backlog information and other information that is not historical information. When used in this presentation, the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts" or future or conditional verbs such as "will," "should," "could," or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs, and projections will be achieved. There are numerous risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from the forward-looking statements contained in this presentation. These risks and uncertainties include, but are not limited to: current or future economic conditions; our ability to obtain and perform under contracts from existing and new customers, including the U.S. Government; exposure to cost overruns, operating cost inflation and potential liability claims and contract disputes; access to trained engineers and other skilled workers; risks relating to operating through joint ventures and partnerships; risks inherent in doing business internationally; potential tax liabilities; maritime risks; changes in the demand for our services and increased competition; protection of intellectual property rights; risks associated with possible future acquisitions; risks related to our information technology systems; impairment of goodwill and/or intangible assets; reduction or reversal of previously recorded revenues; risks relating to audits and investigations, including by governments; compliance with laws and regulations, and changes thereto, including those relating to the environment, trade, exports and bribery; our creditworthiness and ability to comply with the financial covenants in our credit agreement; and other risk factors discussed in our most recently filed Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other Securities and Exchange Commission filings. All forward-looking statements attributable to us, or persons acting on our behalf, apply only as of the date made and are expressly qualified in their entirety by the cautionary statements in this presentation. Except as required by law, we undertake no obligation to revise or update forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

For further information, please contact:

Investors
Zac Nagle
Vice President, Investor Relations
713-753-5082
[email protected]

Media
Marit Babin
Director, Global Communications & Government Relations
713-753-3800
[email protected]