BP Expands 70-Year Partnership With KBR in Global Energy Deal

Group 1 - BP plc has entered into a new global agreement with KBR, Inc. to enhance collaboration across various energy projects, including conventional and new energy initiatives [1][6] - The three-year deal includes engineering, procurement, and construction management (EPCM) services, with an option for a two-year extension, showcasing KBR's adaptability in both conventional and sustainable energy sectors [2][4] - KBR has been instrumental in BP's major projects globally, and this agreement significantly expands KBR's role in providing comprehensive EPCM services to BP's energy portfolio [4][6] Group 2 - The partnership aligns with BP's strategy to strengthen global operations while transitioning to cleaner energy solutions, aiming to drive innovation and efficiency in energy projects [6] - KBR's recent successes, including a contract for the Qalhat LNG complex in Oman, highlight its capability to enhance regional LNG capacity, further supporting the collaboration with BP [5] - Both BP and KBR currently hold a Zacks Rank of 3 (Hold), indicating a stable outlook in the energy sector [7]