1 week ago
KBR (NYSE:KBR) shares rose on Wednesday after the company secured a 10-year general maintenance services contract with Rabigh Refining & Petrochemical Company.
Under the agreement, KBR will oversee maintenance at Petro Rabigh's Polymer I and Polymer II plants, deploying advanced digital tools, including AI and machine learning, to improve asset reliability, safety and overall performance. The contract marks the first time Petro Rabigh has outsourced maintenance services, part of a broader push to achieve top-quartile plant performance and drive greater cost efficiency.
The deal strengthens KBR's long-term services portfolio and highlights its focus on technology-enabled operational support, while advancing Petro Rabigh's transformation strategy centered on safety, reliability and value creation.
Recent Key Contract Wins
This month, KBR disclosed that it received two firm-fixed-price task orders worth $103 million under the U.S. Space Force HQ Analysis contract, to be executed in Chantilly, Virginia, reinforcing its role in national defense and space operations.
Also, last month, the company won a seat on the Missile Defense Agency’s Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) multiple-award, indefinite delivery, indefinite quantity contract, a program with a ceiling value of $151 billion.
