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ICA Fluor Signs $24-Million Contract to Build Two Lightweight Offshore Platforms for PEMEX
Public Company Information:
ICA Fluor, the industrial engineering company jointly owned by Fluor Corporation (NYSE: FLR) and Empresas ICA Sociedad Controladora (NYSE: ICA), today announced it signed a contract for the fabrication of two sleek and lightweight offshore platforms (named May D and Sinan NE) to be installed in the Gulf of Mexico. The $24-million contract was awarded by PEMEX Exploration and Production to the ICA Fluor subsidiary Industria del Hierro, which is dedicated to the fabrication of modules and offshore platforms.
The contract is a 198-day unit price project that involves engineering, procurement, construction, load out, and seabed fastening. Scheduled completion is November 2006. These sleek and lightweight platforms, with a total weight of approximately 1,600 tons, will be fabricated at Industria del Hierro's Mata Redonda yard in Veracruz State, Mexico.
These two structures will help increase oil production in PEMEX's Southwest Region fields in the Gulf of Mexico, which will replace the declining production from the mature Cantarell Field.
PEMEX Exploration and Production is a subsidiary of PEMEX, Mexico's state- owned integrated oil and gas company.
ICA Fluor is the leading industrial engineering company in Mexico, dedicated to the engineering, procurement, construction and maintenance of industrial facilities in the oil and gas, chemical, petrochemical, automotive, electricity, mining and telecommunication industries.
Empresas ICA was founded in 1947. ICA's principal lines of business are construction and engineering; housing; and infrastructure operations, including airports, toll roads, and municipal services. For more information please visit http://www.ica.com.mx .
Fluor Corporation provides services on a global basis in the fields of engineering, procurement, construction, operations, and maintenance and project management. Now headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $13.2 billion in 2005. For more information, visit http://www.fluor.com .
Keith Stephens/Steve Roth
469.398.7624 / 469.398.7623 tel