Fluor Consortium Awarded Engineering, Procurement and Construction Contract for Natural Gas Development Project in Brazil

Thursday, May 7, 2015 5:00 pm EDT

Dateline:

IRVING, Texas, & SÃO PAULO

Public Company Information:

NYSE:
FLR
US3434121022
"It speaks to the value of working closely with our client, starting with the project definition, to identify and implement the most capital efficient integrated solution."

IRVING, Texas, & SÃO PAULO--(BUSINESS WIRE)--Fluor Corporation’s (NYSE: FLR) Brazil unit was part of a consortium awarded a contract by Parnaíba Gás Natural (PGN) for engineering, procurement and construction (EPC) of a natural gas field development project in the state of Maranhão, Brazil. The Brazil-based consortium includes Fluor, Construcap CCPS Engenharia e Comércio and CFPS Engenharia e Projetos S.A. (CFPS). Fluor will book its portion of the $100 million contract value in the second quarter of 2015.

PGN is Brazil’s leading private gas exploration and production company, working primarily in the Parnaíba Basin. The consortium will be responsible for the EPC of an 8.5 million-cubic-meters-per-day gas gathering system in the Gavião Branco field, as well as a gas pipeline that will transport the gas to an existing production and treatment facility located at the Gavião Real field.

“This award represents a key EPC project for Fluor in Brazil,” said Jim Brittain, president of Fluor’s Energy & Chemicals Americas business line. “It speaks to the value of working closely with our client, starting with the project definition, to identify and implement the most capital efficient integrated solution.”

“This project is the result of the growing relationship between Fluor and Construcap that started with the formation of CFPS in 2012,” said Andrés Beran, vice president of sales for Latin America. “We are focused on bringing integrated project solutions to our clients in Brazil to support their business growth.”

This EPC contract follows an award to the consortium earlier this year for the initial engineering and design work for the project. Work has begun in CFPS’s São Paulo, Brazil office, and is expected to be complete in early 2016.

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 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 a full range of engineering services, including process simulation, project integration, integrated automation process and interactive modeling in 3D and 4D.

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 8,000 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 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.

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Fluor Corporation
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Brian Mershon, 469-398-7621
or
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Geoff Telfer, 469-398-7070
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Jason Landkamer, 469-398-7222

   

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