Fluor Daniel (NYSE:FLR) announced today that it has been selected to
provide basic engineering services--phase one--for a new olefin complex
that Mobil Chemical Company and Petroquimica de Venezuela, S.A.
(Pequiven) intend to construct and operate in Jose, Venezuela. The
project's total installed cost is estimated to be about US$2 billion;
Fluor Daniel's contract value for phase one of the project is
approximately US$27 million.
Fluor Daniel's Chemicals & Specialties operating company, with support
from Tecnofluor--its national partner in Venezuela--and Snamprogetti in
Milan, Italy, will provide front-end engineering and design services.
Previously, Fluor Daniel performed conceptual engineering work for this
project. Through its phase-one work, the company will produce
engineering packages which will be used to transition into phase
two--detailed design, procurement and construction of the complex. Work
is underway in Fluor Daniel's Houston office. Phase one is scheduled for
completion within 12 months.
When complete, the world-scale complex will include a 1 million metric
ton a year ethylene cracker and derivative facilities to produce
polyethylene, used for products including plastics and film, and
ethylene glycol.
"We are delighted to assist Mobil Chemical and Pequiven with this
project," said John Hopkins, president of Fluor Daniel's Chemicals &
Specialties operating company. "By using OptimEyesSM, we will provide
our clients with the most economical plant layout and a strong
modularization plan which will result in significant pipe quantity and
labor savings." Mobil Chemical, an unincorporated division of
Virginia-based Mobil Corporation, is an integrated manufacturer and
marketer of basic petrochemicals, flexible packaging films, synthetic
lube base stocks, additives for fuels and lubricants, and catalysts. It
operates 29 facilities in 11 countries and markets in more than 100.
Pequiven, based in Caracas, is a subsidiary of Petróleos de Venezuela,
S.A. (PDVSA). It manufactures and markets petrochemicals for the
Venezuelan and international markets. The company operates three
petrochemical complexes, producing a wide range of products: olefins and
plastics, fertilizers and industrial products (aromatics and oxygenates).
Snamprogetti of Italy, owned by Eni SpA, is an international contractor
for the industrial and energy sectors, supplying engineering,
procurement and construction services. Its presence in Venezuela dates
back almost 30 years.
Fluor Daniel, the principal subsidiary of Fluor Corporation (NYSE:FLR),
is a global engineering, construction, maintenance and diversified
services company, with more than 50 offices worldwide.
