Cairo (APD) - KBR, the engineering, construction and services subsidiary of U.S. Halliburton, said that Yemen Liquefied Natural Gas Company has awarded KBR and its joint venture partners, Technip of France and JGC Corporation of Japan, a contract valued at more than $2 billion, KBR said in a statement Tuesday.
The contract involve providing engineering, procurement, construction, pre-commissioning, commissioning, start-up and operations services for the country's first liquefied natural gas (LNG) plant.
Consisting of two liquefaction trains with a combined capacity of 6.7 million tons per year, the LNG plant will be located in the port of Balhaf on the southern coast of Yemen. The target for start-up of Train 1 is the end of 2008, with Train 2 due to come on-line approximately five months later.
The shareholders of the Yemen Liquefied Natural Gas Company are: Total (42.90%), Yemen Gas Company (23.10%), Hunt Oil Company (18%) and two Korean companies, SK Corporation (10%) and Hyundai Corporation (6%).
"KBR is excited to be part of this unique project for Yemen, which will provide an opportunity to create local jobs in addition to monetizing the country's natural gas resources," said Andy Lane, executive vice president and chief operating officer at Halliburton.
"The execution of such a large-scale project by three of the world's largest engineering and construction companies will also contribute significantly to economic growth in the region," added Lou Pucher, senior vice president, KBR Energy and Chemicals.
Halliburton, founded in 1919, is one of the world's largest providers of products and services to the petroleum and energy industries. [FC]
By Eman Wahby
© APD (Arab Press Digest) 2005
