09:27 AM EDT, 06/18/2024 (MT Newswires) -- KBR (KBR) early Tuesday said it has received a new five-year contract valued at around $46 million from the Iraqi government to assist with infrastructure and future energy projects.

Under the terms of the Ministry of Planning contract, the company will provide advisory and consulting services to the Iraqi government, with a particular focus on creating an effective program environment to support successful delivery of strategic megaprojects and sustainable development.

The contract also includes an unspecified number of options extending its terms, KBR said, adding it will also support other agencies within Iraq's federal government through economic planning, strategy development, feasibility studies, technical reviews and large-scale project management services.

KBR shares were slipping more than 2% just before Tuesday's opening bell.

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