Santos Awards Fluor Early Works Contract for Gladstone LNG Project in Australia

Thursday, May 13, 2010 7:53 pm EDT

Dateline:

IRVING, Texas & ADELAIDE, Australia

Public Company Information:

NYSE:
FLR
US3434121022
"We anticipate using our depth of local resources and global talent and expertise to help our client deliver a cleaner energy source for Australia."

IRVING, Texas & ADELAIDE, Australia--(BUSINESS WIRE)--Fluor Corporation (NYSE:FLR) announced today that Santos has chosen Fluor Australia as the preferred contractor for engineering, procurement and construction (EPC) work on the upstream facilities component of the Gladstone Liquefied Natural Gas (GLNG) project. In anticipation of awarding a full EPC contract, Santos, in the interim, has extended Fluor’s current engineering design contract to include early works activities. Fluor will book approximately $45 million (USD) in the second quarter of 2010 with a full EPC contract award expected later in 2010.

“Fluor is honored to be chosen to continue to help Santos with this pioneering energy project to convert coal seam gas from the Surat and Bowen basins in Queensland into LNG,” said Peter Oosterveer, president of Fluor’s Energy & Chemicals Group. “We anticipate using our depth of local resources and global talent and expertise to help our client deliver a cleaner energy source for Australia.”

Rick Wilkinson, Santos president, GLNG and Queensland, said, “The selection of Fluor Australia—a tier-one EPC company with long-term experience in major project engineering, procurement and construction both in Australia and internationally—marks a major project milestone.”

Fluor will work closely with Santos to engage with industry stakeholders especially local businesses, the Industry Capability Network and local interest groups to ensure maximum opportunities for Australian industry as preparation for the project execution progresses.

Fluor Australia has a 60-year local presence and currently employs 1,300 Australian-based professionals across a variety of industries with operations in Brisbane, Gladstone, Melbourne and Perth.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenues of $22 billion in 2009. For more information visit www.fluor.com.

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