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