KBR has formed a joint venture, SK-KBR Technologies Pte. Ltd. (SK-KBR), with Korean-based SK Energy Co., Ltd. (SK Energy). Under the agreement, SK-KBR is granted exclusive world-wide rights to market and license SK Energy's petrochemical and related process technologies on a global scale.
"This agreement extends KBR Technology's portfolio in the petrochemical market and signifies our firm commitment to growth in this market segment," said Tim Challand, president, KBR Technology. "With long-term experience and a proven track record of delivering innovative technology solutions to customers worldwide, KBR is confident in its capabilities to successfully introduce SK Energy's technologies to the global marketplace."
"This is a good opportunity to bring together each company's strength to the global market. I'm confident that SK Energy's cutting edge technologies, along with KBR's global marketing and engineering capabilities will deliver new value to clients," said Dr. DS Kim, president of SK Energy Institute of Technology (SKEIT). "With the vision of becoming a technology driven company, SKEIT is making a major contribution in positioning SK Energy for stronger future growth globally. SKTPL will help to bolster the value of SK's proprietary technologies and enhance its global reputation."