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ICA Fluor Subsidiary Signs Contracts to Build Four Offshore Drilling 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 that it has signed four separate contracts, each for the fabrication of an offshore drilling platform to be installed in the northeast region of Campeche Bay in the Gulf of Mexico.
The contracts, worth nearly $169 million dollars, were awarded by Pemex Exploracion y Produccion to a subsidiary of ICA Fluor, Industria del Hierro, located in Mata Redonda and Empalme, Veracruz, Mexico.
The contracts are for engineering, procurement, construction, load out, sea-fastening and technical assistance during installation of the platforms.
Total weight of the four platforms, which are scheduled for completion in August 2005, is approximately 30,000 tons.
The four drilling platforms will help increase the oil production in the sea field of Ku-Maloob-Zaap, in the Gulf of Mexico, to replace production from the Cantarell Field.
"These four projects confirm the ICA Fluor and Industria del Hierro positioning, competitiveness and success in the offshore fabrication business," said Jorge Borja, ICA Fluor's general director.
Pemex Exploracion y Produccion is a subsidiary of Pemex, the Mexican state-owned petroleum company.
ICA Fluor is the leading industrial engineering company in Mexico, dedicated to the engineering, procurement, and construction of telecommunication installations and chemical, petrochemical, automotive, refinery and electricity generation plants.
Industria del Hierro (IH) has fabrication yards located in Mata Redonda and Empalme, Veracruz, and is 100 percent owned by ICA Fluor. With more than 35 years of experience in the offshore market, IH has executed more than 60 marine projects; built platforms for use in water depths of 100 to 230 feet, and processed up to 40 thousand tons per year.
Founded in 1947, ICA has completed construction and engineering projects in 21 countries. ICA's principal business units include Civil Construction and Industrial Construction. Through its subsidiaries, ICA also manages airports and operates tunnels, highways, and municipal services under government concession contracts and/or partial sale of long-term contract rights.
Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Aliso Viejo, Calif., Fluor is a FORTUNE 500 company with revenues of nearly $9 billion in 2003. For more information, visit www.fluor.com.
For further information please contact: Jerry Holloway, Media Relations, +1-949-349-7411, or Lisa Boyette, Media Relations, +1-949-349-3652, or Lila Churney, Investor Relations, +1-949-349-3909, or fax, +1-949-349-5375, all of Fluor Corporation.
Jerry Holloway, Media Relations, +1-949-349-7411, or Lisa
Boyette, Media Relations, +1-949-349-3652, or Lila Churney, Investor
Relations, +1-949-349-3909, or fax, +1-949-349-5375, all of Fluor Corporation/
/Web site: http://www.fluor.com /