KBR and SOCAR awarded contracts by BP for projects in Azerbaijan, enhancing energy security and local engineering contributions.
Quiver AI Summary
KBR announced that its joint venture with SOCAR, SOCAR-KBR LLC, has secured two contracts from BP in Azerbaijan. These contracts involve providing engineering design and procurement services for the Sangachal Terminal Electrification project, the largest oil and gas reception terminal in Azerbaijan, and the Shah Deniz compression gas field project. Having previously completed preliminary engineering for these projects, SOCAR-KBR aims to enhance Azerbaijan's clean energy security. KBR emphasizes its long-standing commitment to delivering energy solutions in the region and highlights that over 95% of their Baku team consists of local Azerbaijani professionals.
Potential Positives
- KBR's joint venture, SOCAR-KBR, has been awarded two significant contracts by BP, highlighting their strong partnership and trust from a major client in the energy sector.
- The projects signify KBR's role in advancing Azerbaijan’s clean energy goals, aligning with global sustainability objectives and potentially enhancing the company's reputation in the industry.
- Over 95% of the SOCAR-KBR team is comprised of local Azerbaijani professionals, demonstrating KBR's commitment to local workforce development and community engagement.
- The successful completion of previous phases (FEED for STEL and SDC) showcases SOCAR-KBR's expertise and reliability, indicating a proven track record that may lead to more opportunities in the future.
Potential Negatives
- Potential over-reliance on a joint venture with SOCAR could expose KBR to risks associated with partnerships, particularly if project outcomes do not meet expectations.
- The emphasis on forward-looking statements may highlight the uncertainty surrounding the company's future performance, which can be a concern for investors.
- The announcement of contracts for significant energy projects might suggest that the company is reliant on large contracts from a limited number of clients, potentially jeopardizing diversification efforts.
FAQ
What contracts did KBR and SOCAR win from BP?
KBR and SOCAR secured contracts for the Sangachal Terminal Electrification project and the Shah Deniz compression gas field project.
What is the Sangachal Terminal Electrification project?
The Sangachal Terminal Electrification project is Azerbaijan’s largest oil and gas reception terminal, enhancing the country's energy infrastructure.
Who will lead the projects in Azerbaijan?
The SOCAR-KBR Baku office, primarily composed of Azerbaijani professionals, will lead the projects with support from KBR's global team.
What is the significance of these projects for Azerbaijan?
These projects contribute to Azerbaijan’s clean energy security objectives and support its transition to a national grid supply.
How long has KBR been operating in the region?
KBR has been delivering energy solutions in the region for over three decades, demonstrating extensive experience in the industry.
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 200 institutional investors add shares of $KBR stock to their portfolio, and 215 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 15, 2025 (GLOBE NEWSWIRE) -- KBR (NYSE: KBR) announced today that its joint venture with SOCAR, SOCAR-KBR LLC, has been awarded two contracts by BP in Azerbaijan – one to support the Sangachal Terminal Electrification (STEL) project, Azerbaijan’s largest oil and gas reception terminal, and another for the Shah Deniz compression (SDC) gas field project.
Under the terms of the contracts, SOCAR-KBR will provide detailed engineering design solutions and procurement services for both the projects. SOCAR-KBR previously completed the project FEED for the STEL project, and the pre-FEED and FEED for the SDC project. This additional work reflects BP’s continued confidence in SOCAR-KBR’s delivery excellence.
“KBR has been delivering world-scale energy solutions in the region for over three decades and these projects mark a significant step in Azerbaijan’s clean energy security objectives,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “The Sangachal terminal, which was designed by KBR and serves as a vital link between Azerbaijan and the rest of Europe, will enable the country’s transition to national grid supply and reduce emissions. The Shah Deniz compression project marks the next stage in the evolution of delivering safe and efficient solutions.”
More than 95% of the SOCAR-KBR Baku-based team is composed of Azerbaijani engineers, designers and other professionals. The SOCAR-KBR Baku office will deliver this project with the expertise of local subject matter experts with support from KBR’s global team.
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 future financial performance, project outcomes and 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]
