Fluor Joint Venture Awarded Contract for Tengizchevroil’s Wellhead Pressure Management Project in Kazakhstan

IRVING, Texas--()--Fluor Corporation (NYSE: FLR) announced today its joint venture with WorleyParsons, the Kazakh Institute of Oil and Gas (KING) and KazGiproNefteTrans Engineering Company (KGNT EC) was awarded a contract by Tengizchevroil, LLP (TCO) for its Wellhead Pressure Management Project in Kazakhstan. Fluor booked its share of the undisclosed project value into its backlog in the first quarter of 2012.

The Wellhead Pressure Management Project will support ongoing operations of the Tengiz field.

The Fluor-led joint venture will work together to train and enhance the engineering and construction skills of the local workforce with a high priority on safety, thereby creating a long-term sustainable workforce in the region.

“It is very gratifying to be chosen for this new project for TCO, and we are especially pleased that two excellent local Kazakhstani companies, KING and KGNT, are part of our joint venture with WorleyParsons,” said Peter Oosterveer, president of Fluor’s Energy & Chemicals Group. “We have worked continuously for TCO in Kazakhstan for more than 10 years with recently completed projects. This new project will create many opportunities for further development of the Kazakhstani oil and gas infrastructure, workforce and local companies.”

Chevron has a 50 percent interest in Tengizchevroil. Other partners are KazMunaiGas, 20 percent; ExxonMobil Kazakhstan Ventures Inc., 25 percent; and LUKArco, 5 percent.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Founded in 1912, John Simon Fluor Sr. started the company with a modest investment of $100. Since those humble beginnings, the company has grown into one of the largest engineering & construction companies in the world. Fluor is celebrating its 100th anniversary during 2012.

Today, through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $23.4 billion in 2011. For more information, visit www.fluor100.com and www.fluor.com.

Contacts

Fluor Corporation
Media Relations
Keith Stephens, 469-398-7624
or
Brian Mershon, 469-398-7621
or
Investor Relations
Ken Lockwood, 469-398-7220
or
Jason Landkamer, 469-398-7222

Release Summary

Fluor to perform Tengizchevroil’s Wellhead Pressure Management Project in Kazakhstan

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Contacts

Fluor Corporation
Media Relations
Keith Stephens, 469-398-7624
or
Brian Mershon, 469-398-7621
or
Investor Relations
Ken Lockwood, 469-398-7220
or
Jason Landkamer, 469-398-7222