(BUSINESS WIRE) Fluor Corporation today announced that it was selected by Kuwait Oil Company (KOC), a subsidiary of Kuwait Petroleum Corporation (KPC), to provide comprehensive consulting services, specializing in front-end design and project and construction management in support of KOC’s capital expenditure program for Kuwait. This award follows 10 years of successful Fluor support to KOC. The value of the five-year contract is $410 million and will be booked in Fluor’s fourth quarter.
The services related to the construction of new facilities and upgrading of existing facilities are broad based, and include project management, coordination, planning, front-end design, engineering, contracting, procurement, project controls, construction management and training of KOC project staff. Services will be performed at KOC headquarters in Ahmadi, Kuwait, with front-end design packages executed in Fluor’s Farnborough, U.K., office.
“Fluor has supported clients and executed Middle East projects for more than 50 years,” said Peter Oosterveer, president of Fluor's Energy & Chemicals Group. “During that time we have developed a strong relationship with KOC by partnering with them and offering support with project development and management for its capital spending program. This new agreement strengthens that partnership and we are excited to provide our continued expertise to their projects.”
KOC is a wholly-owned subsidiary of KPC, which is the government-owned entity responsible for Kuwait's hydrocarbon interests throughout the world. As part of the global energy industry, KPC helps to supply the world with vital oil and gas resources through the exploration, production, refining, transporting and marketing of crude oil and products in Kuwait and internationally.
About Fluor Corporation
For more than 100 years, Fluor Corporation (NYSE: FLR) has partnered with its clients to design, build and maintain many of the world's most challenging and complex capital projects. Through its global network of offices on six continents, more than 41,000 employees provide comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, fabrication, operations, maintenance and project management. Today, the company serves a global client base in the energy, chemicals, government, industrial, infrastructure, operations & maintenance, manufacturing & life sciences, mining, power and transportation sectors. Headquartered in Irving, Texas, Fluor ranks 110 on the FORTUNE 500 list and had revenue of $27.6 billion in 2012. For more information, visit www.fluor.com and follow us on Twitter at @FluorCorp.
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