Statoil opts for KBR’s services
- Business & Finance
KBR, Inc. has been awarded a three-year master services agreement (MSA) with Norway’s Statoil to provide engineering and procurement services for Statoil on a global scale.
This agreement builds upon a long-term relationship between KBR and Statoil and provides Statoil access to KBR’s engineering expertise and capacity for their upcoming international field developments, KBR explained in the press release.
“We are very excited as this is a great opportunity to provide value-added support services to Statoil’s projects globally,” said Stuart Bradie, KBR President and CEO.
“This award highlights Statoil’s confidence in KBR’s capabilities to deliver in multiple engineering discipline areas across a variety of projects.”
Additionally, the MSA will allow KBR to competitively bid on global services relating to concept studies, front end engineering design (FEED), detailed engineering and procurement services and general management assistance (EPCM) in connection with Statoil projects, both onshore and offshore. The MSA has an option to renew every three years for a total of 12 years.
Revenue will be booked to the Hydrocarbons business segment as work orders are awarded against the MSA.