KBR forms new venture for Aramco project
Houston, February 9, 2012
KBR today announced that it has completed the registration and licensing of a new entity to carry out general engineering and project management services under the Saudi Arabian Oil Company (Saudi Aramco) GES+ initiative.
Aramco's General Engineering Services Plus (GES+) initiative requires that the majority of its engineering services requirements be conducted in the Kingdom and enhancement of training and domestic employment opportunities.
As part of completing the GES+ initiative, KBR acquired the business of Abdulhadi and Al-Moaibed Consulting Engineering Co (AMCDE), a Saudi owned professional engineering company, and officially formed KBR-AMCDE, a statement said.
KBR will hold a 67 per cent interest in this new entity. This new entity will provide front-end engineering and design (Feed), detailed design, procurement and project management services for Saudi Aramco. Initial staffing of the KBR-AMCDE enterprise is approximately 400 people.
KBR-AMCDE will perform the GES+ work under a five-year contract in support of Saudi Aramco’s Capital Program. This work will be performed from the KBR-AMCDE offices in Al-Khobar, Saudi Arabia. KBR also expects, over time, to use the KBR-AMCDE enterprise to perform engineering work outside the hydrocarbons sector in Saudi Arabia.
“The newly formed KBR-AMCDE is proud to be selected for this GES+ contract by Saudi Aramco. This work will reinforce the highly valued client relationship with Saudi Aramco that KBR and AMCDE developed through work on multiple prior projects,” said Khaled Abu Nasrah, KBR president, Middle East. “The GES+ contract award to KBR-AMCDE creates an opportunity for Saudi nationals to increase their engineering and construction capabilities through the utilization of KBR’s world class work processes, systems and tools.”
KBR is a global engineering, construction and services company supporting the energy, hydrocarbon, government services, minerals, civil infrastructure, power, industrial, and commercial markets. - TradeArabia News Service
More Energy, Oil & Gas Stories
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract
- Al Maha wins Oman Air fuel supply deal
- Iran to become top gas importer by 2025
- UAE hydrocarbon projects seen hitting $11bn
- Summit focus on occupational safety
- Aramco names new senior VP
- Siemens gets $253m Qatar power contract
- Taqa-led group's India deal worth $1.6bn
- Taqa-led group to buy India power plants
- Iraq oil exports hit record 2.8m bpd
- Korean refiners eye more Iraq crude
- Dana starts Egypt gas plant upgrade
- Opec oil production hits new high in Feb
- Taqa-led group to buy Indian hydropower plants
- Schneider gets energy management certification
- Morocco moves ahead with $1.7bn wind farms
- Iraq approves power plant investments
- 670,000 oil & gas wells ‘need to be drilled’
- Qatar bourse celebrates Mesaieed listing