Houston, TX /PRNewswire/ - KBR (NYSE: KBR) has been awarded two contracts by Ningxia Baofeng Energy Group Co. Ltd (Baofeng Energy) for its 500KTA coal to olefins project & 500KTA C2-C5 comprehensive utilization project to be built in Ningdong Town, Lingwu City, Ningxia, China.
Under the terms of the contracts, KBR will provide process technology licensing and process design packages for this project, which will have an annual production capacity of one million tons of olefins. Once completed, the complex will be the largest single-train methanol to olefins (MTO) plant in the world.
KBR will use a combination of its best-in-class SCORE™ steam cracking and MTO recovery technologies to achieve Baofeng Energy's project objectives of highest yields and lowest capital investment. The SCORE steam cracking unit will convert the ethane and propane feedstock into ethylene and propylene, which are later separated and further purified in the MTO recovery section to ensure the quality needed to produce polymer grade ethylene and propylene. The MTO recovery process utilizes KBR's commercially-proven technology, which in addition to superior performance provides CAPEX and OPEX advantages over other technologies.
"We are proud that Baofeng Energy has selected KBR for this breakthrough world-scale MTO complex," said Doug Kelly, KBR President, Technology Solutions. "This award is a reaffirmation of our continued commitment to helping our clients maintain their competitive edge through technological advancements and delivering the best return on their investments."
For more than 50 years, KBR's Technology Solutions business unit has been delivering the technologies, flexible solutions and expertise that petrochemical manufacturers rely on to produce ethylene, propylene, acetyls, phenolics, vinyls and other specialty products from a variety of feedstocks in a safe, efficient, and sustainable manner.
KBR is a global provider of differentiated professional services and solutions across the asset and program life cycle within the government services, technology and industrial sectors. KBR employs approximately 37,000 people worldwide (including our joint ventures), with customers in more than 80 countries and operations in 40 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.
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.