Fluor
Corporation (NYSE: FLR) announced today that Tengizchevroil LLP
(TCO) has sanctioned KPJV, a joint venture between Fluor, Kazakh
Institute of Oil and Gas JSC, Engineering Company KAZGIPRONEFTETRANS
LLP, and WorleyParsons, to provide detailed engineering, procurement and
construction management support services for the Future Growth
Project—Wellhead Pressure Management Project. The joint venture is
working as part of an integrated team with Tengizchevroil on the project
that is the next expansion of the Tengiz oil field in western
Kazakhstan. Fluor plans to book its share of the contract value in the
third quarter of 2016.
The front-end engineering design (FEED) and engineering, procurement and
construction management activities phase of this expansion project was
awarded by Tengizchevroil to KPJV in 2011. The FEED is complete and
detailed engineering is well underway. The project team is also engaged
in long-lead procurement and early construction works for key project
infrastructure at the Tengiz site.
“We are grateful to be able to continue our long-standing relationship
with TCO and our joint venture partners for this prestigious and
strategically important project to Kazakhstan,” said David
Seaton, chairman and chief executive officer of Fluor. “The
integrated team will work to increase the capital efficiency of the
project and enhance execution plans for successful commissioning and
safe and efficient startup of the facilities. With the full
participation of our Kazakhstan partners, we will create an engineering
legacy in Kazakhstan, as well as wide-ranging opportunities for the
local workforce and local supply chain, thereby developing sustainable
benefits for the region.”
The project engineering is being executed by Fluor and its joint venture
partners in Farnborough, UK, with support from its engineering centers
in Atyrau and Almaty, Kazakhstan; New Delhi, India; and Houston, as well
as its integrated construction site in Tengiz.
The Future Growth Project will use sour gas injection technology,
successfully proven during TCO’s expansion project in 2008, to maximize
Tengiz production capacity to approximately 39 million
tons-of-oil-per-year. While the Future Growth Project will increase
production, the Wellhead Pressure Management Project will keep the
existing Tengiz plants full by lowering the flowing wellhead pressure
and boosting the pressure to Tengiz’s six processing trains.
During peak construction, the project is expected to employ
approximately 20,000 construction workers. First oil is planned for 2022.
Fluor began working in Kazakhstan in 1982 and at Tengiz in 1997 on a
condensate stabilization project. Since then, Fluor has performed
ongoing work in Kazakhstan on numerous additional projects prior to the
current expansion project.
About Fluor in the UK
Fluor’s UK operations are headquartered in Farnborough, Hampshire from
where the company serves a wide range of industries including energy,
chemicals, government, life sciences, advanced manufacturing,
infrastructure, mining and power market sectors.
About Fluor Corporation
Fluor
Corporation (NYSE: FLR) is a global engineering, procurement,
fabrication, construction and maintenance company that designs, builds
and maintains capital-efficient facilities for its clients on six
continents. For more than a century, Fluor has served our clients by
delivering innovative and integrated solutions across the globe. With
headquarters in Irving, Texas, Fluor ranks 155 on the FORTUNE 500
list with revenue of $18.1 billion in 2015 and has more than 60,000
employees worldwide. For more information, please visit www.fluor.com
or follow us on Twitter @FluorCorp.
About Tengizchevroil (TCO)
Tengizchevroil LLP is a Kazakhstani partnership that explores, develops,
produces and markets crude oil, LPG, dry gas and sulfur. TCO conducts
its operations in accordance with world-class safety and environmental
standards. In April 1993, Tengizchevroil was formed between the Republic
of Kazakhstan and Chevron Corporation. Current partners are: Chevron
Overseas Company, 50 percent; KazMunayGas NC JSC, 20 percent; ExxonMobil
Kazakhstan Ventures Inc., 25 percent and LUKARCO B.V., 5 percent.
Fluor CorporationGlobal Media Relations:Brian Mershon, 469-398-7621orBrett Turner, 864-281-6976orInvestor Relations:Geoff Telfer, 469-398-7070orJason Landkamer, 469-398-7222orEAME Media Relations:Janet Kearns, +44 1252 292039 / +44 7802 373466