Yokohama, Japan - A joint venture of JGC Corporation, KBR, the engineering and construction subsidiary of Halliburton, and Technip USA, has 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 tons 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.

Angola is known as a natural gas and crude oil producing country. Under the current circumstances, however, considerable quantities of associated gas produced during crude oil extraction are flared into the atmosphere. The Angola LNG Project will be the first large-scale onshore gas project in Angola, and encompass offshore and onshore operations to monetize significant gas resources from fields located offshore Angola. The planning is for the Angola LNG Project to facilitate the development of offshore hydrocarbon resources while reducing gas flaring. Natural gas will be collected and transported from offshore production facilities to the LNG plant near Soyo.

The JGC-KBR-Technip joint venture is convinced that it was selected for this project based on the three companies' successful track record of developing LNG facilities, with the intention being that the project will lead to long-term benefits for the development of Angola.

During the next 12 months, the JGC-KBR-Technip joint venture will participate in a design competition. This competition is expected to result in the selection of one contractor group to perform the engineering, procurement and construction (EPC), as well as start-up and commissioning services, once a final investment decision (FID) for the project is made.

With Angola positioned as a potential market, JGC will continue to promote its FEED and EPC services through effective sales activities for this Angola LNG Project, as well as for other gas-related projects planned for the future.

KBR is a global engineering, construction, technology and services company. Whether designing an LNG facility, serving as a defense industry contractor or providing 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.

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: www.technip.com.

JGC is an international engineering and construction company based in Yokohama, Japan, having multiple operating centers and executing large scale projects worldwide. JGC is currently executing projects in Nigeria, Algeria, Saudi Arabia, Oman, UAE, Qatar, China, Indonesia 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 US$ 3 billion.