KBR exit a major move

摘要

KBR'S decision to exit the lump sum engineering, procurement and construction business is hard to believe, given it has dominated the sector for so long. Its name had become synonymous with mega projects and giant surface production facilities, building anything from large platforms to floaters. The booming liquefied natural gas sector in the past decade or so was good to KBR. A multitude of LNG trains were fabricated all around the world in stick-build or modular fashion, whatever was required. In confirming its exit from the lump sum EPC business, KBR emphasised that this included LNG - an interesting point to highlight. The Ichthys project in Australia - in which KBR built the massive onshore LNG facilities in a consortium with JGC and Chiyoda - ran several billion dollars over budget because of difficulties with subcontractors and the client.