Fluor Corporation (NYSE: FLR) announced today that its subsidiaries have
been awarded a contract by Ras Laffan Liquefied Natural Gas Company
Limited (3) to provide the initial phase of engineering, procurement and
construction management services (EPCM) for RasGas' Common Offplot
Projects in Qatar. The contract for the initial offplot work will be
booked in Fluor's fourth quarter, and its value is undisclosed. The
contract authorizes Fluor to proceed with a portion of the scope, with
the balance of the project, which has an estimated value of more than
US$1 billion, to be released early next year.
The scope of the EPCM contract covers common offplot facilities required
to support a significant number of new projects in Ras Laffan, including
six world scale LNG trains, which will be utilizing gas from the North
Field. These offplot facilities include utilities, tankage and equipment
required to enable storage and loading operations of liquefied petroleum
gas and condensates produced from these operations. Work for this
initial phase will be performed in Fluor's Houston office. Ultimately,
the LNG and related products that are processed at the Ras Laffan
complex will be exported to meet the world's growing energy demand.
"We are very proud that RasGas has put its trust in Fluor for this
important project. This is a strategically important award for our
company and builds upon our strategy to grow the company's presence in
the Middle East. We have been active in the region for more than 55
years and in Qatar for 25 years," said Jeff Faulk, Fluor's group
president of Energy & Chemicals. "We will strive to deliver Fluor's best
service offering to support RasGas' cost, schedule and performance
objectives and to help RasGas achieve its pace-setting goals in the
global LNG industry."
Commenting on this significant development, RasGas Venture Manager Dave
Marchak said, "Signing this contract is a major step in providing key
infrastructure to further develop Qatar's leading position in the gas
industry."
Fluor (NYSE: FLR) 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.
Leann Vandergrift/Lisa Boyette
Media Relations
949.349.7420/3652
tel
Ken Lockwood
Investor Relations
949.349.3815 tel
949.349.5375
fax
Media Relations, Leann Vandergrift, +1-949-349-7420, or LisaBoyette, +1-949-349-3652, or Investor Relations, Ken Lockwood,+1-949-349-3815, or fax, +1-949-349-5375, all of Fluor Corporation//Web site: http://www.fluor.com /