Fluor Corporation (NYSE: FLR) announced today that it has been selected
by Marathon Petroleum Company LLC (MPC), a wholly-owned subsidiary of
Marathon Oil Corporation (NYSE: MRO), to provide front-end engineering
design (FEED) services for a proposed $2.2 billion expansion at the
company's Garyville, La., refinery. Marathon's final investment decision
for this expansion is subject to completion of the FEED and receipt of
applicable permits. The FEED contract value was not disclosed and will
be booked in the fourth quarter.
"Fluor is pleased to continue its long-standing relationship with
Marathon by being part of an important project that would provide
much-needed refining capacity to the U.S. We are dedicated to supporting
Marathon's success on this project," said Jeff Faulk, Fluor's group
president of Energy & Chemicals.
Fluor's services will include front-end engineering for new processing
units, as well as utilities and off sites. The contract will be
performed over a 12-month period and executed in Fluor's office in
Houston, with support from the company's global engineering centers.
"Marathon looks forward to working with Fluor through the design phase
of this important project, which would increase the capacity at our
Garyville refinery from 245,000 barrels per day (bpd) to 425,000 bpd,
enabling us to better meet the fuel supply needs of our customers," said
Gary R. Heminger, Marathon executive vice president and president of MPC.
Fluor provides services on a global basis in the fields of engineering,
procurement, construction, operations, maintenance and project
management. Headquartered in Aliso Viejo, California, Fluor is a FORTUNE
500 company with revenues of nearly $9.4 billion in 2004. For more
information, visit www.fluor.com.
This release contains forward-looking statements with respect to the
Garyville expansion project. Some factors that could cause the actual
results to be different than expected include satisfactory results of
the FEED work, Marathon board and necessary regulatory approvals, crude
oil supply and transportation logistics, availability of materials and
labor, unforeseen hazards such as weather conditions, and other risks
customarily associated with construction projects. The foregoing factors
(among others) could cause actual results to differ materially from
those set forth in the forward- looking statements. In accordance with
the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995, Marathon Oil Corporation has included in its Annual Report
on Form 10-K for the year ended December 31, 2004, and subsequent Forms
10-Q and 8-K, cautionary language identifying other important factors,
though not necessarily all such factors, that could cause future
outcomes to differ materially from those set forth in the
forward-looking statements.
Leann Vandergrift/Lisa Boyette
Media Relations
949.349.7420/3652
tel
Ken Lockwood
Investor Relations
949.349.3815
Media Relations, Leann Vandergrift, +1-949-349-7420, or LisaBoyette, +1-949-349-3652, or Investor Relations, Ken Lockwood,+1-949-349-3815, all of Fluor Corporation//Web site: http://www.fluor.com /