EUROPE for all clients .” The Middle East is what he calls a lump sum turnkey ( LSTK ) market where the client seeks to pass on the majority of the risk to the EPC partner . There may be ‘ better ’ models when benchmarked against western economies , but western regulatory frameworks may not fit so well in the Middle East .
It comes back to fundamentals . The Middle East continues to attract money , as evidenced by the interest of Chinese contractors like Sinopec and Indian players like Larsen and Toubro and Punj Lloyd , which are taking an increasing interest , following on the heels of the Korean contractors who picked up $ 15 billion of contracts seven years ago . This inward investment is good news for KBR , which is ready to provide Pre-FEED , FEED , Project Management , and even EPC , construction supervision and maintenance services .
His game plan is to open offices in countries like Qatar , Oman , Bahrain and Kuwait – as well as Saudi and the UAE . One other tempting market remains ; in Iraq KBR would like to grow the footprint it has alongside the IOCs at the large oilfields of Rumaila and Majnoon ( where KBR is already building the camp for Shell ). He also is keeping a close eye on Iran . Sanctions make direct engagement impossible right now , but he sees engagement with Iran as an important keystone of KBR ’ s ambition to be a major local player in the Middle East . With the rapid thaw in Iran ’ s relationship with the west , a KBR presence in Tehran might not be too distant a prospect .
Company Information
INDUSTRY
Europe , hydrocarbons
REGIONAL HQ
Abu Dhabi
FOUNDED
2006
EMPLOYEES
25,000
REVENUE
$ 6.3 billion ( 2014 )
PRODUCTS / SERVICES
KBR , Inc . is a technology , engineering , procurement and construction company serving the global hydrocarbons and government services industries
www . kbr . com 59