KBR and Its Joint Venture Partners (JKC JV) Sign Contract for EPC Activities for Ichthys LNG Project, Australia

Published on Thursday, 09 February 2012 17:01 Written by TradersHuddle Staff

HOUSTON-( Business Wire )-

KBR (NYSE:KBR) announced today that its joint venture with JGC Corporation and Chiyoda Corporation, the JKC JV, has signed the formal contract for engineering, procurement and construction (EPC) activities on the Ichthys LNG Project in Northern Australia. The JKC JV partners signed this EPC contract, valued at US$15 billion, with the Ichthys LNG Project owners, INPEX and Total.

The Ichthys LNG Project is a Joint Venture between INPEX (76%, the Operator) and Total (24%). Gas from the Ichthys Field in the Browse Basin, approximately 200 kilometers offshore of Western Australia, will undergo preliminary processing offshore to remove water and extract condensate. The gas will then be exported to onshore processing facilities in Darwin via an 889 kilometer subsea pipeline. The Ichthys Project is expected to produce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum, along with approximately 100,000 barrels of condensate per day at peak.

“We are pleased to support INPEX and Total in delivering what will be one of the world’s largest LNG facilities. This is a visionary project that will bring benefits both to Japan, through a long-term supply of cleaner energy, and to Australia, through economic growth and community development,” said Mitch Dauzat, KBR President, Gas Monetization. “We are excited to have the opportunity to play a key role in this world-class project.”

KBR is a global engineering, construction and services company supporting the energy, hydrocarbon, government services, minerals, civil infrastructure, power, industrial, and commercial markets. For more information, visit www.kbr.com.

KBRZac Nagle, 713-753-3625Vice President, Investor Relations and CommunicationsZachary.Nagle@kbr.comorSharon Bolen, 713-753-7615Director, This e-mail address is being protected from spambots. You need JavaScript enabled to view it.