31st January, 2001
KELLOGG BROWN & ROOT HOSTS BRIEFING FOR SONANGOL's ANGOLAN REFINERY PROJECT
2001 Press Releases
FOR IMMEDIATE RELEASE: January 31, 2001
KELLOGG BROWN & ROOT HOSTS BRIEFING
FOR SONANGOL's ANGOLAN REFINERY PROJECT
DALLAS, Texas - More than a dozen companies visited Kellogg Brown & Root's offices in Houston last month to hear the results of a feasibility study recently completed by KBR for a new refinery for Sociedade Nacional de Combustivis de Angola (Sonangol). These companies included several international oil companies and prominent project development companies. Kellogg Brown & Root is a business unit of Halliburton Company. (NYSE:HAL)
The 200,000 barrel-per-day grassroots refinery is to be built in Lobito, about 400 km from Luanda, Angola. The feasibility study results addressed the market survey, configuration of the refinery, a site survey to establish the refinery's location, economics and preliminary funding plan.
Syanga Abilio, vice president of Sonangol, described the study results as "encouraging," and said Sonangol is seeking strategic partners in the venture including those interested in equity partnership, product offtake, financing, and engineering, procurement and construction. Abilio described the response to the briefing as "very enthusiastic," with interested companies expected to respond in early 2001. Attendees also included a representative from the Petroleum Ministry of Angola.
"Kellogg Brown & Root is looking forward to continued participation in advancing this important project to the next phase," said Randy Harl, president, Kellogg Brown & Root.
Kellogg Brown & Root is an international, technology-based engineering and construction company providing a full spectrum of industry-leading services to the hydrocarbon, chemical, energy, and forest products industries.
Halliburton Company, founded in 1919, is the world's largest provider 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 Group and Engineering and Construction Group business segments. The company's World Wide Web site can be accessed at www.halliburton.com.
Sonangol, created in 1976, is 100% owned by the Angolan government and is the sole concessionaire for oil exploration and production in Angola. The main businesses of Sonangol are oil exploration and production, petroleum product supply to the domestic market, petroleum product and crude oil external marketing, and an airline industry to support the petroleum operations.
Contact
Cindy Viktorin
Halliburton Company
(p) 713.676.7125
cindy.viktorin@halliburton.com
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