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Released October 11, 2017 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Engineering, procurement and construction (EPC) giant KBR Incorporated (NYSE:KBR) (Houston, Texas) is taking part in $14.5 billion in project starts and $3.9 billion in project completions that are planned for the fourth quarter, according to Industrial Info's project database, the bulk of which is attributed to just a handful of projects in the Oil & Gas Production, Metals & Minerals and Chemical Processing industries.
More than 60% of the total investment value (TIV) for KBR's fourth-quarter kickoffs is attributed to a single offshore-drilling project: BP plc's (NYSE:BP) (London, England) $9 billion Mad Dog 2 Crude Oil Production Platform in the Gulf of Mexico, which is expected to produce 140,000 barrels per day (BBL/d) from 14 wells. KBR is providing EPC services, and InterMoor recently was contracted to provide mooring, towing and installation services. BP is the project's operator, and other companies involved include Chevron Corporation (NYSE:CVX) (San Ramon, California) and BHP Billiton plc (NYSE:BHP) (Melbourne, Australia). For more information, see Industrial Info's project report.
Offshore developers have faced a significant challenge as costs for deepwater exploration have only increased in the past decade, but BP was able to justify the Mad Dog 2 project after it slashed the budget on Mad Dog 1 without affecting production.
Argentina is home to two of the largest renewable-energy projects set to begin construction in the fourth quarter. KBR Corporate Finance GmbH (Frankfurt, Germany), a financial advisory arm of KBR, is working with Selena Partners SA and Isolux Corsan SA (Buenos Aires, Argentina) to develop the $200 million Loma Blanca VI Windfarm in Trelew, Argentina. The facility will feature 40 turbines that will generate a total 100 megawatts (MW). For more information, see Industrial Info's project report.
Earlier this year, Argentina's government announced it would push for renewables to make up a bigger share of its energy mix, with a goal of 20% by 2025. KBR and Isolux Corsan are at work on another project closer to the capital city: the $200 million Miramar Windfarm in Miramar, Argentina. Up to 40 turbines will generate a total of 97.7 MW. For more information, see Industrial Info's project report.
The highest-valued project involving KBR that is nearing completion is Suncor Energy Incorporated's (NYSE:SU) (Calgary, Alberta) $2.5 billion froth-treatment plant at the Fort Hills Oil Sands Mine in Fort McMurray, Alberta. The two-train plant, which is part of the $13.5 billion first phase of the Fort Hills project, will produce at least 180,000 BBL/d of bitumen. For more information, see Industrial Info's project report.
At the Barclays CEO Energy/Power Conference last month, Suncor Energy CEO Steve Williams said the project was "moving away from the construction phase and moving into the commissioning and operations phase," and that the first official bitumen product is expected from Fort Hills before the end of the year. KBR's Canadian subsidiary is serving as construction manager.
Also set to wrap up in the near future is INEOS Group AG's (London, England) addition of a High-Density Polyethylene (HDPE) Unit at the Battleground Manufacturing Complex in La Porte, Texas. The 1 billion-pound-per-year unit will produce a wide range of HDPE products, focusing on bi-modal pipe and film resins. For more information, see Industrial Info's project report.
KBR also plays a role in the biofuels market, such as its design-engineering work on DowDuPont Incorporated's (NYSE:DWDP) (Midland, Michigan) $275 million commercial-scale fuel ethanol plant in Nevada, Iowa. The plant will process cellulosic material to produce 27.5 million gallons per year of ethanol. For more information, see Industrial Info's project report and September 5, 2017, article - After Merger, What's Next for DowDuPont?.
Prior to its merger with Dow, DuPont was ranked as the top U.S. producer of ethanol. The newly formed company is no doubt seeking to maintain that status, as heavy-hitters in the ethanol market are taking advantage of low corn prices to boost production, expand capacity and squeeze less-efficient competitors out of an overcrowded market, according to Business Insider. In 2017 alone, domestic ethanol producers hit record output levels and added more capacity than in any year since 2011.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
More than 60% of the total investment value (TIV) for KBR's fourth-quarter kickoffs is attributed to a single offshore-drilling project: BP plc's (NYSE:BP) (London, England) $9 billion Mad Dog 2 Crude Oil Production Platform in the Gulf of Mexico, which is expected to produce 140,000 barrels per day (BBL/d) from 14 wells. KBR is providing EPC services, and InterMoor recently was contracted to provide mooring, towing and installation services. BP is the project's operator, and other companies involved include Chevron Corporation (NYSE:CVX) (San Ramon, California) and BHP Billiton plc (NYSE:BHP) (Melbourne, Australia). For more information, see Industrial Info's project report.
Offshore developers have faced a significant challenge as costs for deepwater exploration have only increased in the past decade, but BP was able to justify the Mad Dog 2 project after it slashed the budget on Mad Dog 1 without affecting production.
Argentina is home to two of the largest renewable-energy projects set to begin construction in the fourth quarter. KBR Corporate Finance GmbH (Frankfurt, Germany), a financial advisory arm of KBR, is working with Selena Partners SA and Isolux Corsan SA (Buenos Aires, Argentina) to develop the $200 million Loma Blanca VI Windfarm in Trelew, Argentina. The facility will feature 40 turbines that will generate a total 100 megawatts (MW). For more information, see Industrial Info's project report.
Earlier this year, Argentina's government announced it would push for renewables to make up a bigger share of its energy mix, with a goal of 20% by 2025. KBR and Isolux Corsan are at work on another project closer to the capital city: the $200 million Miramar Windfarm in Miramar, Argentina. Up to 40 turbines will generate a total of 97.7 MW. For more information, see Industrial Info's project report.
The highest-valued project involving KBR that is nearing completion is Suncor Energy Incorporated's (NYSE:SU) (Calgary, Alberta) $2.5 billion froth-treatment plant at the Fort Hills Oil Sands Mine in Fort McMurray, Alberta. The two-train plant, which is part of the $13.5 billion first phase of the Fort Hills project, will produce at least 180,000 BBL/d of bitumen. For more information, see Industrial Info's project report.
At the Barclays CEO Energy/Power Conference last month, Suncor Energy CEO Steve Williams said the project was "moving away from the construction phase and moving into the commissioning and operations phase," and that the first official bitumen product is expected from Fort Hills before the end of the year. KBR's Canadian subsidiary is serving as construction manager.
Also set to wrap up in the near future is INEOS Group AG's (London, England) addition of a High-Density Polyethylene (HDPE) Unit at the Battleground Manufacturing Complex in La Porte, Texas. The 1 billion-pound-per-year unit will produce a wide range of HDPE products, focusing on bi-modal pipe and film resins. For more information, see Industrial Info's project report.
KBR also plays a role in the biofuels market, such as its design-engineering work on DowDuPont Incorporated's (NYSE:DWDP) (Midland, Michigan) $275 million commercial-scale fuel ethanol plant in Nevada, Iowa. The plant will process cellulosic material to produce 27.5 million gallons per year of ethanol. For more information, see Industrial Info's project report and September 5, 2017, article - After Merger, What's Next for DowDuPont?.
Prior to its merger with Dow, DuPont was ranked as the top U.S. producer of ethanol. The newly formed company is no doubt seeking to maintain that status, as heavy-hitters in the ethanol market are taking advantage of low corn prices to boost production, expand capacity and squeeze less-efficient competitors out of an overcrowded market, according to Business Insider. In 2017 alone, domestic ethanol producers hit record output levels and added more capacity than in any year since 2011.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
