Fluor Partnership Wins Natural Gas Development Contract in Brazil

IRVING, Texas & SÃO PAULO--()--Fluor Corporation (NYSE: FLR) announced that its CFPS Engenharia e Projetos, S.A., consortium with Construcap Engenharia e Comércio was awarded an engineering and design contract by exploration and production company Parnaíba Gás Natural (PGN) for a natural gas field development project in the Parnaiba Basin in Maranhão state in Brazil. PGN is Brazil’s leading private gas exploration and production company with a number of concessions in the region. Fluor booked its share of the contract for an undisclosed value in the first quarter of 2015.

“This project demonstrates the value of the expertise that the Fluor and Construcap partnership brings to oil, gas and chemical clients in Brazil,” said Jim Brittain, president of Fluor’s Engineering & Chemicals business line in the Americas. “This project for Parnaiba Gas Natural is representative of our commitment to develop partnerships and provide value to our clients in Brazil and Latin America, and we look forward to the successful execution of this work.”

The consortium will be responsible for the engineering and design of a gas gathering system that will allow PGN to achieve its 2016 production target. In addition, the project involves a 40-kilometer gas pipeline that will connect the Gaviao Branco production and treatment facility in the Parnaiba Basin to the central gas processing facility located in Maranhão state.

The engineering work will be executed by CFPS in its São Paulo, Brazil, office.

About CFPS

Formed in 2012 CFPS is a 50-50 joint venture between Fluor and Construcap that delivers engineering, procurement and construction management services to Brazilian clients in oil & gas, chemical, power generation, mining and manufacturing markets. CFPS provides full range of engineering services, including process simulation, project integration, integrated automation process and interactive modeling in 3D and 4D.

About Parnaíba Gás Natural

Parnaíba Gás Natural (PGN) is an independent Exploration and Production (E&P) company which operates in the Parnaíba Basin, Maranhão State, Brazil. PGN operates three fields and seven exploration blocks, amounting to 7,000 square kilometers. With an average gas production of 5.5 million cubic-meters-per-day, Parnaíba Gás Natural is one of the largest gas producers in Brazil. Visit PGN at: www.pgnsa.com.br.

About Construcap

Construcap CCPS Engenharia e Comércio is among the top eight construction firms in the highly competitive Brazilian market. Headquartered in São Paulo, Brazil with more than 6,000 employees, the company stands out for the quality of its performance and is frequently recognized as one of the best companies in its industry. For more than 70 years, Construcap has served clients from the public and private sectors developing and implementing a broad spectrum of works such as roads, railroads, airports, water and sanitation infrastructure, commercial and industrial buildings, hospitals, etc. Visit Construcap at www.construcap.com.br.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that designs and builds some of the world's most complex projects. The company creates and delivers innovative solutions for its clients in engineering, procurement, fabrication, construction, maintenance and project management on a global basis. For more than a century, Fluor has served clients in the energy, chemicals, government, industrial, infrastructure, mining and power market sectors. Headquartered in Irving, Texas, Fluor ranks 109 on the FORTUNE 500 list. With more than 40,000 employees worldwide, the company's revenue for 2014 was $21.5 billion. Visit Fluor at www.fluor.com and follow on Twitter @FluorCorp.

Contacts

Fluor Corporation
Media Relations:
Brian Mershon, 469-398-7621
or
Eric Krantz, 281-263-6030
or
Investor Relations:
Geoff Telfer, 469-398-7070
or
Jason Landkamer, 469-398-7222

Release Summary

CFPS, a consortium of Fluor and Construcap, was awarded an engineering and design contract by Parnaíba Gás Natural for a natural gas field development project in Brazil.

Contacts

Fluor Corporation
Media Relations:
Brian Mershon, 469-398-7621
or
Eric Krantz, 281-263-6030
or
Investor Relations:
Geoff Telfer, 469-398-7070
or
Jason Landkamer, 469-398-7222