KBR and Partners Awarded EPC Contract for Sixth LNG Train in Nigeria; NLNGSix Project will further expand Bonny Island operation

Business Wire, August 3, 2004

BONNY ISLAND, RIVERS STATE, Nigeria -- Nigeria LNG Limited (NLNG) has awarded the engineering, procurement and construction (EPC) contract for the NLNGSix project at its existing liquefied natural gas facility to a joint venture team, which includes KBR, the wholly owned engineering and construction subsidiary of Halliburton (NYSE:HAL). The partners of the equal joint venture team, known as TSKJ, include Technip, Snamprogetti, KBR and JGC Corporation. This is the fourth project that TSKJ has contracted with NLNG.

"We are pleased to continue our involvement with NLNG and our partners in the development of this integral facility on Bonny Island. The project demonstrates our commitment to Nigeria's continued growth and increasing strength as a reliable provider of LNG," said Andy Lane, president, and CEO of KBR. "KBR is the leading engineering, procurement and construction company in LNG projects, and we are committed to maintaining that position in the industry."

The addition of the sixth train will boost NLNG's production capacity by four million TPA of LNG, to an overall production capacity for the complex of 22 million TPA of LNG and five million TPA of natural gas liquids. The sixth train is scheduled to start up in the 4Q 2007 and most of the production has been sold for North American destinations.

TSKJ has been executing projects on Bonny Island for NLNG since 1995 and was awarded this contract as an option to the current NLNGPlus project (trains 4 and 5), which is currently in advanced stages of construction and scheduled to begin production next year.

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

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 Web site is accessible at: http://www.technip.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 and treatment, refining, natural gas monetization, chemical complexes, field upstream facilities and pipelines, power and environmental plants, infrastructures. Based in San Donato Milanese, Milan, Snamprogetti has major subsidiaries in Italy and United Kingdom as well as several offices worldwide. Staffed by 3,300 employees, the company has had an average turnover of about 1,600 million Euro in the last three years. Snamprogetti's Web site can be accessed at http://www.snamprogetti.it.

KBR is a global engineering, procurement and services company. Whether designing a chemical plant, serving as a defense industry contractor, or providing capital construction, KBR delivers world-class service and performance. KBR employs 83,000 people in 43 countries around the world. Founded in 1919, Halliburton 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 Group and Engineering and Construction business segments. The company's World Wide Web can be accessed at 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, 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 Web site can be accessed at http://www.jgc.co.jp.