KBR to provide engineering services for TotalEnergies' AGUP2 project in Iraq, enhancing gas recovery and energy sustainability.
Quiver AI Summary
KBR has been awarded a contract by ENKA İnşaat ve Sanayi A.Ş. to provide detailed engineering design services for the Associated Gas Upstream Project Phase 2 (AGUP2) as part of the Gas Growth Integrated Project (GGIP) in Basra, Iraq, which is operated by TotalEnergies and its partners. This contract follows KBR's successful Front-End Engineering Design (FEED) for the project, highlighting its established relationship with TotalEnergies and ENKA. KBR will apply multi-discipline design capabilities to assist in developing a central processing facility aimed at processing oil and gas from the Ratawi oil field, targeting an increase in production capacity while reducing flaring and supporting Iraq’s energy transition. The AGUP2 project is set to commence in 2028 and is seen as a crucial step towards Iraq’s energy self-sufficiency and environmental performance. KBR emphasizes its longstanding commitment to sustainable energy solutions in Iraq and its role in the country's broader decarbonization goals.
Potential Positives
- KBR has been selected to provide detailed engineering design services for a significant project (AGUP2) in Iraq, demonstrating the company's capability and expertise in the energy sector.
- This award follows KBR’s successful delivery of the Front-End Engineering Design for the same project, highlighting the company's reliable performance and client trust.
- The AGUP2 Project supports Iraq’s energy transition to low-carbon solutions, positioning KBR as a key contributor to the country's decarbonization goals and sustainable growth.
- KBR's ongoing partnership with TotalEnergies and ENKA reflects their strong relationships and commitment to energy infrastructure development in Iraq.
Potential Negatives
- The press release emphasizes the company's reliance on uncertain future outcomes, highlighting that many of its goals are subject to significant risks and uncertainties that could negatively impact performance.
- The potential for negative investor perception due to the mention of routine flaring and the environmental implications of oil and gas projects in the context of a global push for sustainability.
- The forward-looking statements warn investors against placing undue reliance on the company’s projections, signaling potential volatility in performance and strategic direction.
FAQ
What is the AGUP2 project?
The AGUP2 project aims to enhance oil and gas production from the Ratawi oil field while supporting Iraq's energy transition.
Who has KBR partnered with for the AGUP2 project?
KBR has partnered with ENKA, TotalEnergies, BOC, and Qatar Energy for the AGUP2 project in Iraq.
What services will KBR provide for AGUP2?
KBR will provide detailed engineering design services from its global engineering centers for the AGUP2 project.
When is the AGUP2 project expected to start?
The AGUP2 project is expected to commence in 2028 to process oil and associated gas.
How does the AGUP2 project contribute to Iraq’s energy goals?
The project aims to eliminate routine flaring and enhance energy production, supporting Iraq's goal of energy self-sufficiency.
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 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 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 $1,056,246
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$KBR Hedge Fund Activity
We have seen 197 institutional investors add shares of $KBR stock to their portfolio, and 225 decrease their positions in their most recent quarter.
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- FMR LLC added 5,914,636 shares (+43.7%) to their portfolio in Q2 2025, for an estimated $283,547,649
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$KBR Analyst Ratings
Wall Street analysts have issued reports on $KBR in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Citigroup issued a "Buy" rating on 11/03/2025
- DA Davidson issued a "Buy" rating on 08/01/2025
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$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 $55.0.
Here are some recent targets:
- Andrew Kaplowitz from Citigroup set a target price of $57.0 on 11/03/2025
- Mariana Perez from B of A Securities set a target price of $55.0 on 08/13/2025
- Brent Thielman from DA Davidson set a target price of $65.0 on 08/01/2025
- 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
Full Release
HOUSTON, Nov. 06, 2025 (GLOBE NEWSWIRE) -- KBR (NYSE: KBR) has been selected by ENKA İnşaat ve Sanayi A.Ş. (ENKA) to provide detailed engineering design services for the Associated Gas Upstreasm Project Phase 2 (AGUP2), as part of the Gas Growth Integrated Project (GGIP) operated by TotalEnergies alongside its partners BOC and Qatar Energy, in the Basra region of Iraq.
This award follows KBR’s successful delivery of the Front-End Engineering Design (FEED) for the same development, underscoring its long-standing relationship with both TotalEnergies and ENKA, and continued commitment to supporting Iraq’s energy infrastructure development.
Under the letter of award, KBR will provide multi-discipline detailed engineering design from its global engineering centers, enabling ENKA’s execution of the engineering, procurement, supply, construction, and commissioning (EPSCC) scope for the central processing facility. The aim of the AGUP2 project, due to start in 2028, is to process oil and associated gas from the Ratawi oil field to increase production capacity to 210,000 barrels per day of oil and 154 million standard cubic feet per day of gas while striving to eliminate routine flaring and contributing to Iraq’s energy transition to low-carbon.
“KBR has been a trusted service provider in Iraq for more than four decades. This project represents a strategic milestone for Iraq’s energy future as it will combine gas recovery, power generation, oil field redevelopment, and renewable energy investment to support Iraq’s goal of becoming self-sufficient in energy production with improved environmental performance,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “We are proud to continue supporting TotalEnergies and ENKA to drive sustainable growth and reliable energy for Iraq.”
KBR’s experience in gas processing, carbon reduction, and energy transition technologies positions the company as a key contributor to Iraq’s broader decarbonization goals and TotalEnergies’ integrated approach to responsible energy production.
About KBR
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 37,000 people performing diverse, complex and mission-critical roles in 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
About Gas Growth Integrated Project
The GGIP is designed to enhance the development of Iraq’s natural resources to improve the country’s electricity supply. This four-in-one multi-energy project comprises the recovery of gas that is currently flared at three oil fields in southern Iraq to supply electric power plants and to support the redevelopment of the Ratawi oil field, the construction of a 1 GWac (1.25GWp) solar farm, and a seawater treatment plant.
Forward Looking Statements
The statements in this press release that are not historical statements, including statements regarding the goals of the AGUP2 project, future project outcomes and the company’s potential role in future developments, 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]
