KBR Inks Services Deal With BP Unit for Caspian Sea Project
KBR will be more active in Central Asia once 2014 rolls around. The company announced that it has signed a deal with BP unit BP Exploration (Shah Deniz) to supply what it describes as "detailed engineering and procurement services" for BP's Shah Deniz Stage 2 Project, a gas field located Azerbaijan's region of the Caspian Sea. The terms of the deal were not disclosed.
KBR is to provide its services for an offshore complex located at Shah Deniz, as well as an onshore gas processing facility. This will begin in January and run until 2018.
Shah Deniz is the largest gas field in Azerbaijan. It is operated by BP, which has a share of 25.5% in it. Fellow investors include Statoil, Total, Azeri oil incumbent SOCAR, and others.
The article KBR Inks Services Deal With BP Unit for Caspian Sea Project originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Statoil and Total. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.