Fluor and Technip Awarded RAPID Refinery Facilities Project in Malaysia

Thursday, October 23, 2014 9:05 am EDT

Dateline:

IRVING, Texas

Public Company Information:

NYSE:
FLR
US3434121022
"We are honored by the confidence that PRPC has shown in awarding our team this additional work on the RAPID refinery project"

IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR), in a joint venture with Technip, was awarded an engineering, procurement and construction management contract by PRPC Utilities and Facilities Sdn. Bhd. for the PETRONAS Refinery and Petrochemical Integrated Development (RAPID) project located in Pengerang, Johor, Malaysia. Under the contract, the Fluor and Technip joint venture will be responsible for the utilities, interconnecting and offsites scope of work. Fluor booked the contract in the third quarter of 2014.

PRPC Utilities and Facilities Sdn. Bhd. is a subsidiary of PETRONAS Refinery and Petrochemical Corporation Sdn. Bhd. (PRPC), a company under the umbrella of Petroliam Nasional Berhad (PETRONAS) group, Malaysia’s national oil and gas company.

“We are honored by the confidence that PRPC has shown in awarding our team this additional work on the RAPID refinery project,” said Ken Choudhary, president of Fluor’s Energy & Chemicals business in the Asia region. “The RAPID project will have a significant positive impact on the Malaysian economy.”

RAPID is part of the mammoth PETRONAS Pengerang Integrated Complex development that is worth an estimated US$27 billion. It comprises RAPID and its associated facilities including the Pengerang co-generation plant, liquefied natural gas (LNG) re-gasification terminal, air separation unit, the raw water supply project as well as other ancillary facilities.

RAPID will consist of a 300,000-barrels-per-day refinery and petrochemical complex with a combined capacity of producing 7.7 million metric tons per year of various grades of products, including differentiated and specialty chemicals products.

RAPID’s refinery start-up is expected by early 2019.

A Fluor-Technip consortium was awarded the Program Management Consultancy contract for the RAPID project in December 2013.

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 2013 was $27.4 billion. Visit Fluor at www.fluor.com and follow on Twitter @FluorCorp.

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