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ICA Fluor Signs New Contract for Integrated Services at Chicontepec Oil Field in Mexico
ICA Fluor Holds 29 Percent Interest in Consortium
Total Consortium Contract Value is $1.4 Billion
Public Company Information:
IRVING, Texas--(BUSINESS WIRE)--ICA Fluor, the industrial engineering, procurement and construction company, jointly owned by Fluor Corporation (NYSE: FLR) and Empresas ICA (NYSE: ICA), today announced the signing of a contract by a consortium in which ICA Fluor holds a 29 percent interest. The contract is for integrated oil field services at PEMEX’s Chicontepec oil field. The total contract value is approximately $1.4 billion (USD) and has a scheduled term of four years. The company will book the new award in the third quarter 2007.
The scope of the work to be performed by ICA Fluor includes the engineering, procurement and construction of the surface infrastructure and production facilities of the onshore Chicontepec oil field for PEMEX exploration and production. The field is located 250 kilometers northeast of Mexico City, in the states of Veracruz and Puebla. Discovered in 1925, Chicontepec represents one of Mexico’s largest oil reserves.
"ICA Fluor has worked for PEMEX on numerous projects over its 14 years of operation in Mexico" said Juan Carlos Santos, General Director of ICA Fluor. "The new Chicontepec project is very important for PEMEX Exploration and Production, and we are pleased to have the opportunity to continue to support PEMEX in the development of this very large oil and gas reserve."
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 www.ica.com.mx.
Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, and maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $14.1 billion in 2006. For more information, visit www.fluor.com.
Keith Stephens, 469-398-7624
Steve Roth, 469-398-7623
Ken Lockwood, 469-398-7220
Jason Landkamer, 469-398-7222