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Recommended Stocks In the News: Fluor Selected to Consult on Key Kuwait Oil Company Projects

10/9/03 ALISO VIEJO, Calif. PRNewswire-FirstCall/ -- Fluor Corporation (NYSE: FLR) today announced that it has been selected by Kuwait Oil Company, a subsidiary of Kuwait Petroleum Corporation, to provide comprehensive consulting services, specializing in project management, in support of KOC's capital-expenditure program. $44 million of the five-year contract's total value was booked in the company's second quarter.

The services relating 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 in offices provided by KOC at its headquarters in Ahmadi, Kuwait, with front-end design packages executed in Fluor's office in Camberley, U.K. "Fluor has been active supporting clients in the Middle East for more than 50 years," said Kirk Grimes, Fluor's group executive of Oil & Gas. "This award from KOC, which allows us to partner with them to develop the best solutions for their capital-expenditure program, illustrates the depth and excellence of our employees' expertise in project development and management. We look forward to supporting KOC with their projects." KOC is a wholly owned subsidiary of Kuwait Petroleum Corporation (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 by exploring for, producing, refining, transporting and marketing of crude oil and products, both in Kuwait and internationally.

Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management.

SOURCE Fluor Corporation
Web Site: http://www.fluor.com

 




 

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