Fluor Consortium Delivers Natural Gas Development Project in Brazil

Project completed safely, on time and on budget

Thursday, February 25, 2016 4:22 pm EST

Dateline:

IRVING, Texas & SÃO PAULO

Public Company Information:

NYSE:
FLR
US3434121022

Fluor consortium delivers Natural Gas Development Project in Brazil

IRVING, Texas & SÃO PAULO--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that its consortium has met substantial completion on the Gavião Branco facility in the state of Maranhão, Brazil, turning it over to Parnaíba Gás Natural (PGN), Brazil’s leading private gas exploration and production company.

The consortium performed basic and detailed engineering, procurement, construction, commissioning and start-up of an 8.5 million-cubic-meters-per-day gas gathering system in the Gavião Branco field, as well as a 70-kilometer-gas pipeline, under a demanding 12-month schedule. The consortium included Fluor; Construcap CCPS Engenharia e Comércio S.A. (Construcap), the consortium leader; and CFPS Engenharia e Projetos S.A. (CFPS), a joint venture of Fluor and Construcap. The consortium significantly optimized the facility’s design to reduce capital investment costs, while maintaining the original completion date. The project brings the Gavião Branco field into commercial operation, enables the tie-in of the Gavião Branco Sudeste field in the first quarter of 2016 and will provide the tie-in point for Gavião Caboclo and Gavião Branco Norte in the future.

“The consortium leveraged the organizations’ strengths, such as Construcap’s experienced construction workforce in Brazil and Fluor’s flow assurance expertise, to deliver an optimized solution that was executed safely, on time and on budget,” said Jim Brittain, president of Fluor’s Energy & Chemicals Americas business line. “The successful start-up of this facility is a testament to the capital efficiency and schedule certainty that the Fluor and Construcap team brings to clients in Brazil.”

“Completion of this schedule-driven project is a milestone for Construcap in our relationship with Fluor,” said Roberto Capobianco, president of Construcap. “We are proud to have met all of our commitments to PGN, bringing value to their business and enabling them to meet their obligations to their customers, shareholders and regulatory authorities. We look forward to continuing to build this strategic relationship.”

Based on the results of this project, PGN has retained the consortium to deliver master planning services for future developments in the Parnaíba Basin.

About CFPS

CFPS Engenharia e Projetos S.A. (CFPS), a joint venture between Construcap and Fluor, provides engineering, procurement and construction solutions for clients in the energy and chemicals, industrial, infrastructure, mining, metals and power market segments in Brazil. For more information, visit http://www.cfps.com.br/.

About Construcap

Construcap is a privately-held Brazilian construction company founded in 1944. It serves a number of industries including oil & gas, infrastructure, power, mining & metals, automotive & manufacturing. Construcap had 2014 revenue of R$1,487,602,000.00 with 6,900 employees. Its success is based on a continuous development process and in technological innovation with a constant concern about social responsibility and respect for the environment. For more information, visit www.construcap.com.br.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company that designs, builds and maintains capital-efficient facilities for its clients on six continents. For more than a century, Fluor has served clients by delivering innovative and integrated solutions for our clients in the energy, chemicals, government, industrial, infrastructure, mining and metals, and power market sectors. With headquarters in Irving, Texas, Fluor ranks 136 on the FORTUNE 500 list with revenue of $18.1 billion in 2015 and has 44,000 employees worldwide. For more information, please visit www.fluor.com or follow us on Twitter @FluorCorp.

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The Gavião Branco facility in the state of Maranhão, Brazil (Photo: Business Wire)
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Fluor Corporation
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or
Brett Turner, 864-281-6976
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Geoff Telfer, 469-398-7070
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Jason Landkamer, 469-398-7222

   

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