Fluor Joint Venture Awarded FEED Contract for Tengizchevroil Multi-Phase Pump Project in Kazakhstan

TCO Fined At More Than 4bln Tenge

Fluor Corporation (NYSE: FLR) announced today its joint venture team, KPJV, has been selected by Tengizchevroil LLP (TCO) to execute the front-end engineering and design (FEED) for the Multi-Phase Pump Project in Kazakhstan. Fluor booked its share of the contract value in the fourth quarter of 2016, reports KazWorld.info with reference to BUSINESS WIRE.

Part of TCO’s major capital program, the project will implement multi-phase pump technology across the gathering network of existing oil and gas facilities at the Tengiz and Korolev fields to maintain crude production by reducing wellhead pressure and increasing well deliverability. The project also includes the modification or upgrade of some utility systems.

“Fluor is delighted to have been selected by TCO for this important operational project,” said Al Collins, president of Fluor’s Energy & Chemicals business in Europe, Africa and Middle East. “Through early involvement, we can optimize design and construction solutions and provide a strong foundation for the project’s advancement. We will leverage our team’s extensive knowledge of executing oil and gas projects in Kazakhstan to deliver the project in a safe and efficient manner without disruption to production.”

The project scope includes FEED, detail design and procurement services.

The integrated project team will be based at Fluor’s Farnborough, UK office, providing strong links to TCO’s Future Growth Project – Wellhead Pressure Management team also located in the office.

Fluor began working in Kazakhstan in 1982 and at Tengiz in 1997 on a condensate stabilization project. Since then, Fluor has performed ongoing work in Kazakhstan on numerous additional projects. KPJV is currently executing the world-scale Future Growth Project.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company that designs, builds and maintains capital-efficient facilities for its clients on six continents. For more than a century, Fluor has served our clients by delivering innovative and integrated solutions across the globe. With headquarters in Irving, Texas, Fluor ranks 155 on the FORTUNE 500 list with revenue of $18.1 billion in 2015 and has more than 60,000 employees worldwide.

About Tengizchevroil (TCO)

Tengizchevroil LLP is a Kazakhstani partnership that explores, develops, produces and markets crude oil, LPG, dry gas and sulfur. TCO conducts its operations in accordance with world-class safety and environmental standards. In April 1993, Tengizchevroil was formed between the Republic of Kazakhstan and Chevron Corporation. Current partners are: Chevron Overseas Company, 50 percent; KazMunayGas NC JSC, 20 percent; ExxonMobil Kazakhstan Ventures Inc., 25 percent and LUKARCO B.V., 5 percent.

Contacts

Fluor Corporation
Global Media Relations
Brian Mershon, 469-398-7621
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Brett Turner, 864-281-6976
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Investor Relations
Geoff Telfer, 469-398-7070
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Jason Landkamer, 469-398-7222
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EAME Media Relations
Janet Kearns, +44 1252 292039/+44 7802 373466

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