KBR Establishes GES+ Entity in Saudi Arabia

KBR (NYSE: KBR) today announced that it has completed the registration and licensing of a new entity to carry out general engineering and project management services under the Saudi Arabian Oil Company (Saudi Aramco) GES+ initiative.

As part of completing the GES+ initiative, KBR acquired the business of Abdulhadi and Al-Moaibed Consulting Engineering Co. (AMCDE), a Saudi owned professional engineering company, and officially formed KBR-AMCDE. KBR will hold a 67% interest in this new entity. This new entity will provide front-end engineering and design, detailed design, procurement and project management services for Saudi Aramco. Initial staffing of the KBR-AMCDE enterprise is approximately 400 people.