KBR renewed its EPCM contract with Basra Oil Company for the Majnoon Oil Field, enhancing production and local capacity.
Quiver AI Summary
KBR has announced the renewal of its engineering, procurement, and construction management (EPCM) contract with Basra Oil Company for the Majnoon Oil Field for an additional two years. This extension allows KBR to continue providing essential EPCM services aimed at maintaining production capacity, improving operational efficiency, and enhancing safety measures. KBR emphasizes its commitment to supporting Iraq's national energy strategy and local development, with a workforce primarily composed of local professionals to facilitate effective project execution. The CEO of Basra Oil Company acknowledged KBR as a strategic partner that successfully supports long-term development goals and project sustainability.
Potential Positives
- KBR has secured a two-year renewal of its EPCM contract with Basra Oil Company for the Majnoon Oil Field, ensuring continuity in its operations and revenue stream.
- The extension reinforces KBR's strategic partnership with BOC, highlighting its strong working relationship and credibility in the region.
- The contract supports Iraq's national energy strategy and emphasizes KBR's commitment to local development and sustainability, which can enhance its corporate reputation.
- KBR's team in Iraq includes a significant number of local professionals, showcasing its dedication to local content and community involvement, which can contribute to smoother project execution.
Potential Negatives
- The press release includes a cautionary note about forward-looking statements, indicating potential risks and uncertainties that may affect the company's business and results, which could undermine investor confidence.
- There is no mention of financial performance or specific metrics related to the renewed contract, which may leave stakeholders questioning the financial implications of this extension.
- The reliance on local professionals and commitment to local content, while potentially positive, may suggest that KBR faces challenges in project execution and operational efficiency in a region with known complexities and risks.
FAQ
What is the recent contract secured by KBR?
KBR has renewed its EPCM contract with Basra Oil Company for the Majnoon Oil Field for an additional two years.
How will KBR support Basra Oil Company?
KBR will provide comprehensive EPCM services to enhance production capacity, operational efficiency, and safety improvements.
What is the significance of the Majnoon Oil Field?
The Majnoon Oil Field is one of Iraq’s most strategic assets, vital for national energy strategy and sustainable development.
How is KBR contributing to local development in Iraq?
KBR employs a high number of local professionals in Iraq, enhancing local capacity and ensuring effective project execution.
Who can be contacted for more information about KBR?
For investor inquiries, contact Jamie DuBray; for media inquiries, contact Philip Ivy at KBR.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$KBR Insider Trading Activity
$KBR insiders have traded $KBR stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $KBR stock by insiders over the last 6 months:
- STUART BRADIE (President and CEO) sold 20,000 shares for an estimated $1,056,246
- GREGORY SEAN CONLON (Chief Digital & Development) sold 19,000 shares for an estimated $961,149
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$KBR Hedge Fund Activity
We have seen 195 institutional investors add shares of $KBR stock to their portfolio, and 222 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BANK OF NEW YORK MELLON CORP removed 1,404,316 shares (-50.1%) from their portfolio in Q1 2025, for an estimated $69,948,979
- BOSTON PARTNERS added 1,142,111 shares (+35.2%) to their portfolio in Q1 2025, for an estimated $56,888,548
- MILLENNIUM MANAGEMENT LLC removed 1,132,105 shares (-43.9%) from their portfolio in Q1 2025, for an estimated $56,390,150
- VAN ECK ASSOCIATES CORP added 944,358 shares (+107.1%) to their portfolio in Q1 2025, for an estimated $47,038,471
- CITADEL ADVISORS LLC removed 912,475 shares (-50.0%) from their portfolio in Q1 2025, for an estimated $45,450,379
- NOMURA HOLDINGS INC added 889,322 shares (+5030.1%) to their portfolio in Q1 2025, for an estimated $44,297,128
- BALYASNY ASSET MANAGEMENT L.P. removed 776,959 shares (-62.3%) from their portfolio in Q1 2025, for an estimated $38,700,327
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$KBR Analyst Ratings
Wall Street analysts have issued reports on $KBR in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Citigroup issued a "Buy" rating on 04/25/2025
- Truist Securities issued a "Buy" rating on 04/14/2025
To track analyst ratings and price targets for $KBR, check out Quiver Quantitative's $KBR forecast page.
$KBR Price Targets
Multiple analysts have issued price targets for $KBR recently. We have seen 5 analysts offer price targets for $KBR in the last 6 months, with a median target of $60.0.
Here are some recent targets:
- Steven Fisher from UBS set a target price of $54.0 on 07/02/2025
- Jerry Revich from Goldman Sachs set a target price of $55.0 on 05/27/2025
- Sangita Jain from Keybanc set a target price of $63.0 on 05/07/2025
- Andrew Kaplowitz from Citigroup set a target price of $69.0 on 04/25/2025
- Tobey Sommer from Truist Securities set a target price of $60.0 on 04/14/2025
Full Release
HOUSTON, July 17, 2025 (GLOBE NEWSWIRE) -- KBR (NYSE: KBR) announced today that it has secured the renewal of its engineering, procurement, and construction management (EPCM) contract with Basra Oil Company (BOC) for the Majnoon Oil Field for an additional two years.
Under the contract, KBR will continue to provide comprehensive EPCM services to help BOC sustain forecasted production capacity, enhance operational efficiency, maximize local content, and drive continued safety improvements.
“This contract extension is a testament to the strong working relationship between KBR and BOC, and further reinforces KBR’s ongoing commitment to Iraq’s national energy strategy and the sustainable development of the Majnoon field, one of the most strategic assets in the country,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “KBR is committed to support local development and contribute to Iraq’s long-term domestic capacity enhancement.”
“KBR will continue to be our strategic partner in EPCM projects in Majnoon, successfully supporting our long-term development goals and maximizing field potential through safe, efficient, and sustainable project execution,” said Mr. Kadhim Kareem, CEO of the Majnoon Field at Basra Oil Company.
KBR’s team in Iraq comprises a high number of local professionals to meet the targeted percentages at the Majnoon site and other regional hubs, ensuring the seamless execution of ongoing and upcoming projects as part of the Growth II Program.
About KBR
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 38,000 people worldwide with customers in more than 80 countries and operations in over 29 countries. KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.
Visit www.kbr.com
Forward Looking Statements
The statements in this press release that are not historical statements, including statements regarding project performance and outcomes and future demand for the company’s services, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company’s control, that could cause actual results to differ materially from the results expressed or implied by the statements. These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company’s most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
For further information, please contact:
Investors
Jamie DuBray
Vice President, Investor Relations
713-753-5082
[email protected]
Media
Philip Ivy
Vice President, Global Communications and Marketing
713-753-3800
[email protected]
