HOUSTON, March  18, 2026  (GLOBE NEWSWIRE) -- KBR (NYSE:KBR) announced today it has been awarded a contract by Zallaf Exploration, Production and Refining of Oil and Gas Company to provide project management and

KBR Awarded Project Management Contract to Support Libya's Downstream Expansion at Zallaf South Refinery

KBR Secures Major Contract for South Refinery Project in Libya

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>HOUSTON, March  18, 2026  (GLOBE NEWSWIRE) -- KBR (NYSE:KBR) announced today it has been awarded a contract by Zallaf Exploration, Production and Refining of Oil and Gas Company to provide project management and</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>KBR has secured a significant contract with Zallaf Exploration for project management services in Libya&#039;s South Refinery Project, to be executed over a 50-month period. This award aligns with KBR&#039;s strategy to enhance its foothold in Libya and capitalize on its substantial experience in complex energy projects, potentially boosting revenue and reinforcing market position.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>KBR awarded contract for South Refinery Project in Libya.</li><li>Contract includes project management and technical services over 50 months.</li><li>KBR aims to enhance oil and gas infrastructure in Libya.</li><li>Company has extensive previous project experience in Libya.</li><li>Commitment to local talent and safe project execution emphasized.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Zallaf Exploration (N/A)</strong>: Contractor awarded to KBR, enhancing their operational scope in Libya.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This falls under &#039;Corporate Developments&#039; as it highlights KBR&#039;s strategic expansion efforts in the energy sector, reflecting operational growth potential in emerging markets like Libya.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>KBR&#039;s long-term commitment to Libya may stabilize future revenue streams.</li><li>Successful execution of the project could lead to additional contracts in the region.</li><li>Potential geopolitical risks may impact project timelines and cash flows.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Contract value not disclosed but expected to impact revenue significantly over 50 months.</li><li>KBR has executed over 160 refining and downstream projects globally.</li><li>The project supports Libya&#039;s oil and gas infrastructure development.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Investors should consider KBR a buy as this contract could boost future revenues within 12-18 months.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="left">HOUSTON, March  18, 2026  (GLOBE NEWSWIRE) -- KBR (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KBR">KBR</a>) announced today it has been awarded a contract by Zallaf Exploration, Production and Refining of Oil and Gas Company to provide project management and technical services for the South Refinery Project in Ubari, Southwest Libya.</p>  <p align="left">Under the terms of the contract, KBR will provide contract management, project management and supporting technical services throughout the EPC phases of the project. This work is expected to be executed over a 50-month period.</p>  <p align="left">The South Refinery Project aligns with KBR's long-standing commitment to advancing vital oil and gas infrastructure in Libya. KBR has a proven track record of delivering successful projects in the country, including engineering services for major national programs such as the Great Man-Made River Project, widely recognized as the largest irrigation project in the world, along with other landmark developments across Libya. Globally, KBR has executed more than 160 refining and downstream projects in project and construction management (PMC) roles, reinforcing its depth of experience in executing complex energy projects.</p>  <p align="left">"As an American company with a long and proud history in Libya, we are pleased to support this strategically important project," said Jay Ibrahim, President, KBR Sustainable Technology Solutions. "We are committed to establishing a long-term presence in the country, built on strong local engineering talent, while once again demonstrating our world class capability to safely and reliably manage large scale, complex projects on schedule."</p>  <p align="left">KBR continues to deliver tailored energy solutions worldwide, with a strong focus on safety, performance, and long-term value for its clients.</p>  <p align="left"><strong>About KBR</strong><br></br>We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 36,000 people worldwide with customers in more than 85 countries and operations in over 28 countries. KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.</p>  <p align="left">Visit <a href="http://www.kbr.com" title="www.kbr.com">www.kbr.com</a></p>  <p align="left"><strong>Forward Looking Statements</strong></p>  <p align="left">The statements in this press release that are not historical statements, including statements regarding the project management work for Zallaf Exploration, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company's control, that could cause actual results to differ materially from the results expressed or implied by the statements. These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.</p>  <p align="left"><strong>For further information, please contact:</strong></p>  <p align="left"><strong><em>Investors</em></strong><br></br>Rachael Goldwait<br></br>Vice President, Investor Relations<br></br>713-753-5082<br></br><a href="https://www.globenewswire.com/Tracker?data=hF9aV3-P7ZNjfTCztOxgASvtZKAmxiVlrOsZSGMcHc94OPM_39lL9IkjoUzGz7J3zFnvvwEw2Amv-SqEXvZpFOKs4VJ0xKGjfPeW1U68pCs=" rel="nofollow" target="_blank">Investors@kbr.com</a></p>  <p align="left"><strong><em>Media</em></strong><br></br>Philip Ivy<br></br>Vice President, Global Communications and Marketing <br></br>713-753-3800<br></br><a href="https://www.globenewswire.com/Tracker?data=vLjC_cllOiwl04monH92RqrqQBA2-uVbeoVl5Mx1TUyK7tvWEUw1NEMpv5Cgcs8H6jUYIrfd7f2KLZHjNFHWZahvR6g9H_y5p67JzQ6mDqw=" rel="nofollow" target="_blank">MediaRelations@kbr.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY3MTkxMCM3NDg0ODM0IzIwMTY1MjE="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/M2MzYTQ0NjMtMWZlZi00ZTQzLWE3NWMtZmI1ZjAyNzNiZjk1LTEwMjgwOTQtMjAyNi0wMy0xOC1lbg==/tiny/Kellogg-Brown-Root-LLC-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/14b9b973-fab4-4178-a9e8-25989fc26239"><img src="https://ml.globenewswire.com/media/14b9b973-fab4-4178-a9e8-25989fc26239/small/kbr-logo-final-2020-cmyk-png.png" border="0" width="150" height="83" alt="Primary Logo"></img></a></p>

KBR has secured a significant contract with Zallaf Exploration for project management services in Libya's South Refinery Project, to be executed over a 50-month period. This award aligns with KBR's strategy to enhance its foothold in Libya and capitalize on its substantial experience in complex energy projects, potentially boosting revenue and reinforcing market position.

KBR Awarded Project Management Contract to Support Libya's Downstream Expansion at Zallaf South Refinery

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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