Liberal Repercussion

KBR and Partners Awarded EPC Contract for Further Expansion of Nigerian Plant; NLNG Plus Will Add Two Trains to Bonny Island Operation.

PR Newswire, March 22, 2002

BONNY ISLAND, Rivers State, Nigeria -- Nigeria LNG Limited (NLNG) has awarded the engineering, procurement and construction (EPC) contract for the realization of the trains 4 and 5 expansion project, or "NLNGPlus Project" (EPC), at its existing $3.8 billion liquefied natural gas facility to a joint venture team, which includes KBR, the wholly owned engineering and construction subsidiary of Halliburton . The partners of the equal joint venture team, known as TSKJ, include Technip-Coflexip , Snamprogetti, KBR and JGC Corporation. The EPC contract to TSKJ is valued at over $(US) 1.7 billion.

Dave Lesar, CEO of Halliburton, said: "The TSKJ joint venture is pleased and honored to have been selected once again by NLNG for this important and strategic project for Nigeria. With this win and the recent award of the Union Fenosa LNG project in Egypt, KBR continues to dominate as the leading engineering, procurement and construction company in LNG projects. We are committed to being a leader in the LNG industry."

Jack Stanley, chairman of KBR, added: "This project will bring environmental benefits to the area through reduced gas flaring and it will contribute to the economic development of Nigeria and its vast gas reserves."

When the NLNGPlus project is completed in November 2005, the plant will have an overall production capacity of 16.8 million tons per year of LNG and two million tonnes per year of liquefied petroleum gas. It will also utilize about 2,800 million standard cubic feet per day of gas.

Each of the two new trains and associated facilities will be able to process 4.0 million tonnes per year of LNG. Also, the expansion is intended to increase the capability of the complex to process associated gas feedstock, enabling a major reduction in gas flaring in Nigeria. In addition to the environmental benefits, the NLNGPlus expansion project is expected to significantly increase export earnings for Nigeria and further establish NLNG as one of the major players in the global natural gas industry.

TSKJ has provided NLNG with an option price for an additional duplicate LNG train (Train 6), which will further expand the LNG capacity to 20.8 million tons per year.

TSKJ was awarded the EPC contract for Trains 1 and 2 and the necessary site infrastructure in December 1995. Trains 1 and 2 started up in August 1999 and February 2000. Train 3 with LPG recovery facilities was awarded to TSKJ in March 1999. Construction of Train 3 is well under way and is expected to start up on schedule in 2002.

In early 2001, TSKJ successfully won the Project Specification for the NLNGPlus Project in an international competitive tender process. This work was completed in November 2001.

NLNG shareholders are Nigerian National Petroleum Company (49%) and subsidiaries of Royal Dutch/Shell (25.6%), TotalFinaElf (15%) and Agip(10.4%).

With a workforce of about 18,000 and annual revenues of about 5 billion euros, TECHNIP-COFLEXIP ranks among the top five in the field of oil and petrochemical engineering, construction and services. Headquartered in Paris, the Group is listed in New York and in Paris (EURONEXT: 13170). The main engineering and business centers of Technip-Coflexip are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the United States, Brazil, Abu-Dhabi, China, India, Malaysia and Australia. The Group has high- quality industrial and construction facilities in France, Brazil, the UK, the USA, and Finland as well as a world class fleet of offshore construction vessels. TECHNIP-COFLEXIP's website is accessible at: http://www.technip-/ coflexip.com .

Snamprogetti, a company of the ENI Group, is an international engineering and construction company, operating as a main contractor in the fields of oil and gas production, refining, natural gas treatment and monetization, chemical and fertilizer plants, field upstream facilities and pipelines, infrastructure, power and environment plants. Based in San Donato Milanese, Milan, Snamprogetti has major subsidiaries in Italy and in the United Kingdom as well as several offices worldwide. Staffed by 3,300 employees, the company has had an average turnover of over 1,500 million US dollar in the last five years. Snamprogetti's website can be accessed at http://www.snamprogetti.it/ .

KBR, a wholly owned subsidiary of Halliburton, is an international, technology-based engineering and construction company which provides a full spectrum of industry-leading services for governments, public infrastructure and to the hydrocarbon, chemical, energy, and forest products industries. Halliburton, founded in 1919, is the one of the world's largest providers of products and services to the petroleum and energy industries. The company's World Wide Web site can be accessed at http://www.halliburton.com/ .

JGC is an international engineering and construction company based in Yokohama, Japan, having multiple operating centers and executing large scale projects world-wide. JGC is currently executing projects in Nigeria, Algeria, Saudi Arabia, Malaysia, Australia, Venezuela and other countries. Established in 1928, JGC has a strong background in lump sum turnkey operations of both hydrocarbon and non-hydrocarbon related projects with annual sales turnover of approximately $3 billion. JGC's website can be accessed at http://www.jgc.co.jp/ .

MAKE YOUR OPINION COUNT - Click Here

http://tbutton.prnewswire.com/prn/11690X36746073

Contact: Zelma Branch, zelma.branch@halliburton.com , or Wendy Hall, both of Halliburton, +1-713-676-4371

Website: http://www.jgc.co.jp/ http://www.snamprogetti.it/ http://www.technip-coflexip.com/ http://www.halliburton.com/

posted by Rei Toei @ 5:03 p.m.