|
contents | news | |||||||||
| KBR sells Aberdeen-based Production Services Business KBR, the engineering, construction and services subsidiary of Halliburton, has completed an agreement announced in March 2006 to sell the Production Services group, part of the company's Energy and Chemicals division. Based in Aberdeen, the Production Services group delivers a range of support services to oil and gas exploration and production customers and has been in operation for over 25 years. Its portfolio of support services includes asset management and optimization; brownfield projects; engineering; hook-up, commissioning and start-up; maintenance management and execution; and long-term production operations. The group now operates under the name Production Services Network (PSN). Financing for the purchaser is provided by the Bank of Scotland Integrated Finance. Under the terms of the agreement, KBR received a purchase price of $280 million. The transaction resulted in a pre-tax gain to Halliburton of approximately $100 million during the second quarter of 2006. write your comments about the article :: © 2006 Construction News :: home page |