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Fluor Forms Consortium with Global Industries to Pursue Offshore Projects
Exclusive Agreement Brings Full Offshore Project Execution Services to Middle East & North Africa
Public Company Information:
IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that Fluor Offshore Solutions has joined forces on an exclusive basis with Global Industries, Ltd. (NASDAQ: GLBL), a leading offshore construction firm, to pursue offshore oil & gas projects in the Middle East and North Africa (MENA) region.
The consortium will leverage the combined strengths of both Fluor Offshore Solutions and Global Industries in the areas of engineering, project management, procurement, construction, construction management, transportation and installation and commissioning services for offshore oil & gas projects.
“The combination of Global Industries along with Fluor Offshore Solutions will strengthen our full-service capabilities to serve clients in the vitally important region of the Middle East and North Africa,” said Peter Oosterveer, Fluor’s group president of Energy & Chemicals. “Global Industries’ extensive vessel fleet and installation services expertise, coupled with Fluor’s extensive global offshore project capabilities provides an ideal one-stop solution to our offshore clients.”
From offshore facilities engineering and design to procurement and construction, Fluor Offshore Solutions has the expertise to undertake the largest, most complex projects in the offshore and upstream markets in any part of the world. Notable projects include Kizomba A and B in West Africa, Bayu Undan off the coast of Australia, Bohai Bay in China, and Poinsettia in the waters of Trinidad and Tobago.
“This consortium is an important step for both companies not only to give us efficiencies in markets we traditionally serve, but also to provide us access to new prospects and new markets,” said John Clerico, Global Industries’ chairman and chief executive officer. “For our customers, it means we can provide innovative solutions using the intellectual and logistical strength of both companies, while at the same time providing client value on a sole source basis.”
Global Industries has offices and port facilities in Sharjah, United Arab Emirates, and Dammam, Saudi Arabia, and continues to grow its offshore construction activity in the region, building on the foundation created by its diving operations business.
About Global Industries, Ltd.
Global Industries, Ltd. (NASDAQ: GLBL) is a leading offshore solutions provider of offshore construction, engineering, project management and support services including pipeline construction, platform installation and removal, deepwater/SURF installations, IRM, and diving to the oil and gas industry worldwide.
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 $22.3 billion in 2008. For more information, visit www.fluor.com.
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