Yahoo Finance KBR's JV Wins Deal from BP Exploration to Boost Power Supply
KBR, Inc. KBR recently announced that its joint venture firm — SOCAR-KBR — won a front-end engineering design (FEED), turnaround engineering and procurement support services contract from BP Exploration. Shares of KBR inched up 0.41% on June 20.
Per the deal, SOCAR-KBR will provide FEED services to decommission the existing five main power generators on the Shah Deniz Alpha (SDA) platform in Azerbaijan. Further, the KBR-designed Shah Deniz Bravo platform will create a power supply through subsea cables and a backup power generator.
Jay Ibrahim, president of KBR’s Sustainable Technology Solutions, stated, "KBR has been working in the Azerbaijan-Georgia-Turkey region since 1993, which gives us unrivaled expertise with on- and off-shore greenfield and brownfield assets. Our SOCAR-KBR joint venture allows us to combine KBR's proven tools, systems, procedures and project track record in the region with SOCAR's operations knowledge and experience in the energy sector."
The said project, which would be delivered from SOCAR-KBR's Baku office, will significantly reduce SDA's overall carbon footprint and increase operational efficiency. The project will providing a robust, long-term, high-availability power supply.
KBR’s Robust Technology Support to Aid Business
For more than 50 years, KBR has been leading the process technology development, commercialization and the plant design solutions industry. KBR’s best-in-class technologies have been designing and building end-to-end, sophisticated digitization solutions and services for clients worldwide.
These digitized technologies and solutions help companies increase efficiency and productivity, reduce costs and create opportunities to generate higher revenues and profitability. Overall, it has been driving growth by focusing on lowering carbon emissions, product diversification, energy efficiency, and more sustainable technologies and solutions.
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KBR’s shares have declined 5.5% this year compared with the Zacks Engineering - R and D Services industry’s 11.9% fall. KBR’s solid prospects are backed by continuous contract wins, strong project execution, backlog level and potential government and technology businesses.
Zacks Rank & Other Key Picks
Currently, KBR carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AECOM ACM — carrying a Zacks Rank #2 — is a leading solutions provider for supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities, government and in environmental, energy and water businesses.
AECOM’s expected earnings growth rate for 2022 is 21.6%. The consensus mark for its 2022 earnings has moved up to $3.43 per share from $3.40 in the past 60 days.
Sterling Construction Co., Inc. STRL — a Zacks Rank #2 company — has been benefiting from broad-based growth across the E-Infrastructure, Building and Transportation solutions segments.
The consensus mark for Sterling’s 2022 earnings rose to $2.61 per share from $2.60 in the past 30 days. This suggests 7.9% year-over-year growth.
Howmet Aerospace Inc. HWM — a Zacks Rank #2 company — is a provider of advanced engineered solutions for the aerospace and transportation industries. The company is poised to gain from solid product offerings and focus on innovation and cost-saving efforts. Its sound shareholder-friendly policies add to its appeal.
Howmet Aerospace has seen an upward estimate revision from $1.38 per share to $1.41 for the 2022 bottom line in the past 60 days. This suggests 39.6% year-over-year growth.
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