KBR (KBR) and AYTB Announce 7-year Contract in Saudi Arabia
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Revenue Growth %: -5.0%
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KBR (NYSE: KBR) and AYTB announced today that they have signed a seven-year contract to provide refinery maintenance services for the Saudi Aramco Total Refining and Petrochemical Company (SATORP) at a new 400,000 bpd refinery in Jubail, Saudi Arabia. The refinery represents both a major investment by SATORP, and – as a single construction effort – a unique technical challenge due to its world-class scale and complexity. The contract value is in the approximate range between $140 million and $170 million, depending on services. Production is expected to commence in 2013.
KBR, through a joint venture with Jubail-based AYTB, will deliver full-service maintenance services at the SATORP refinery. Deliverables under the contract include overall site management and field supervision of a craft workforce covering all mechanical, electrical and instrumentation disciplines. KBR and AYTB will also provide detailed planning and scheduling services, execution of preventive and predictive maintenance programs, management of subcontractor activities and procurement of tools and equipment. Additional services include the development, in partnership with SATORP, of reliability and cost optimization programs.
This is the first time a major participant in the Saudi Arabian hydrocarbons industry has outsourced a full-service maintenance contract. Under terms of the contract, the joint venture between KBR and AYTB will work in partnership with SATORP to demonstrate a model for delivering services
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KBR, through a joint venture with Jubail-based AYTB, will deliver full-service maintenance services at the SATORP refinery. Deliverables under the contract include overall site management and field supervision of a craft workforce covering all mechanical, electrical and instrumentation disciplines. KBR and AYTB will also provide detailed planning and scheduling services, execution of preventive and predictive maintenance programs, management of subcontractor activities and procurement of tools and equipment. Additional services include the development, in partnership with SATORP, of reliability and cost optimization programs.
This is the first time a major participant in the Saudi Arabian hydrocarbons industry has outsourced a full-service maintenance contract. Under terms of the contract, the joint venture between KBR and AYTB will work in partnership with SATORP to demonstrate a model for delivering services
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