Houston, Texas — February 14, 2012 — KBR (NYSE: KBR) today announced it was awarded a contract by TAIF Group to provide licensing and engineering services for the Veba Combi Cracker (VCC) to be implemented at the Nizhnikamsk refinery in the Republic of Tatarstan, Russia.
Under the terms of the contract, KBR will provide the License, Basic Engineering Package (LBEP), and other services for TAIF’s VCC-based Deep Conversion Complex. The complex will process 2.7 million tons per annum of refinery vacuum residues, and 1.6 million tons per annum of distillates into high value petrochemical feedstocks and Euro 5 diesel. This award marks the third VCC license, and KBR’s largest VCC project award since the acquisition of the rights to the technology in January 2010.
“KBR’s VCC technology is uniquely suited to process Russian crude derived residues and is an ideal solution for monetizing Russia’s large residue resource base,” said John Derbyshire, President, KBR Technology. “I look forward to our new partnership with TAIF as we embark on this large project.”
TAIF is a privately held, large production and investment company comprising of 67 subsidiaries and affiliates operating in the oil and gas processing, refining, petrochemicals, telecommunication, building and construction, banking and investments, and service sectors. For more information, visit www.en.taif.ru.
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