Sonangol, ChevronTexaco and Co-Venturers Award KBR and Partners FEED C

    Business Editors/Energy Editors

    HOUSTON--(BUSINESS WIRE)--April 25, 2005--The joint venture team of KBR, the engineering and construction subsidiary of Halliburton (NYSE:HAL), JGC Corporation of Japan and Technip have been awarded a Front End Engineering and Design (FEED) contract for the Angola LNG Project, to be constructed near Soyo in Northern Angola, approximately 300 kilometers north of Luanda. The five million tonnes per year LNG facility will be operated by a new company to be formed by Sonangol (the Angola national oil company), ChevronTexaco, BP, ExxonMobil and Total.
    The Angola LNG Project will encompass offshore and onshore operations to monetize significant gas resources from fields located offshore Angola. The Project is planned to facilitate offshore hydrocarbon developments while reducing gas flaring in Angola. Natural gas will be collected and transported from offshore production facilities to the LNG plant near Soyo.
    "The award of a FEED contract to KBR and its partners marks the definition phase for what will become the first major oil and gas project onshore Angola," said Lou Pucher, Senior Vice President of KBR's Energy and Chemicals division. "The KBR-JGC-Technip (KJT) joint venture was selected for this project due to our successful track record of developing LNG facilities in remote locations, and we believe this project will have long-term benefits for the development of Angola."
    During the next 12 months, the KBR-JGC-Technip joint venture will participate in a design competition. This competition is expected to result in the selection of one contractor group to perform engineering, procurement, construction (EPC), startup and commissioning services once a final investment decision (FID) for the project is made.
    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, Libya, Egypt, Saudi Arabia, Oman, Abu Dhabi, Qatar, China, Australia, 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 in excess of $3 billion. JGC's website can be accessed at http://www.jgc.co.jp.
    With a workforce of about 19,000 persons, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. Headquartered in Paris, the Group is listed in New York and Paris. The Group's main engineering and business centers 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, Finland and Angola, as well as a world-class fleet of offshore construction vessels. Technip's website is accessible at: http://www.technip.com.
    KBR is a global engineering, construction, technology and services company. Whether designing an LNG facility, serving as a defense industry contractor, or providing small capital construction, KBR delivers world-class service and performance. KBR employs more than 60,000 people in 43 countries around the world.
    Halliburton, founded in 1919, is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services and Engineering and Construction Groups. The company's World Wide Web site can be accessed at www.halliburton.com.

--30--AA/ho*

CONTACT: KBR, Public Relations, Houston Jennifer W. Dellinger, 713-753-2092 jennifer.dellinger@halliburton.com

KEYWORD: TEXAS JAPAN INTERNATIONAL ASIA PACIFIC AFRICA/MIDDLE EAST INDUSTRY KEYWORD: OIL/GAS ENERGY REAL ESTATE BUILDING/CONSTRUCTION MANUFACTURING MARKETING AGREEMENTS SOURCE: KBR

Copyright Business Wire 2005