KBR To Begin Work On EPC Phase Of Methanex's Geismar 3 Methanol Project

Houston, TX /PRNewswire/ - KBR (NYSE: KBR) announced today that, following a Final Investment Decision from Methanex, approval has been given to begin work on the detailed Engineering, Procurement and Construction (EPC) phase of Methanex's Geismar 3 methanol project. KBR was awarded a reimbursable Front End Engineering Design (FEED) with EPC option contract for the project in July 2018.

After successfully completing the FEED phase, KBR will continue to work closely with Methanex to provide reimbursable EPC services for a third methanol operating plant located adjacent to Methanex's two existing Geismar, Louisiana facilities.

EPC work for the 1.8 million tonne per year world-scale methanol plant – which will be executed from KBR's Houston Operations Center and at the project site – is expected to be completed in the second half of 2022.

"We are delighted to continue our work with Methanex and to once again demonstrate our unmatched ability to execute large-scale, complex projects," said Stuart Bradie, KBR President and CEO. "We look forward to successfully and safely completing this world class methanol facility that will produce a product that is an essential ingredient used to produce hundreds of everyday industrial and consumer items and is also a clean-burning, cost-competitive alternative fuel."

KBR is a proven industry leader on integrated engineering, procurement and construction management offerings, from the front end engineering, through project completion. For more than 40 years, KBR has designed, constructed and maintained hundreds of petrochemical plants across the globe.

About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Solutions and Energy sectors. KBR employs approximately 38,000 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:

• Government Solutions, serving government customers globally, including capabilities that cover the full lifecycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics

• Technology Solutions, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining and gasification

• Energy Solutions, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU); program management and consulting services

KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

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Forward Looking Statement
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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.