KBR Subsidiary Granherne Selected for Trans Caspian Oil and Gas Study
14 April 2008
KBR (NYSE:KBR) today announced that its consulting subsidiary Granherne has been selected as the contractor for the United States Trade and Development Agency (USTDA) funded Trans Caspian Oil and Gas Study by the State Oil Company of the Republic of Azerbaijan (SOCAR).
The feasibility study will involve services for conceptual pipeline routing and design, financial analysis and economic modeling, capital expenditure (CAPEX) and operating expenditure (OPEX) estimates, as well as marketing of products and environmental reviews. The study will also examine the feasibility of building new pipelines to transport oil and gas from the region to other world markets.
"Our selection demonstrates Granherne's ability to address the wide ranging scope of the study while addressing the technical challenges," said Clive Vaughan, Managing Director, Granherne. "We look forward to participating in the effort to bring oil and gas from the Caspian region to other areas of the world."
Granherne Inc. was selected for the study through a competitive bidding process involving eleven other firms. Granherne will rely on expertise from its KBR counterparts, including its office in Baku, as well as the support of several subcontractors. Work on the study is expected to commence in late April.
Granherne is a leading front-end engineering consultancy for onshore, offshore and deepwater oil and gas developments and has experience on over 3,000 projects in more than 20 countries. Granherne has provided services for more than 100 subsea developments, including step out expansions, marginal fields and major subsea projects.
