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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