Fluor Secures Canadian Oil Sands Contract
Fluor Corporation (NYSE:FLR) was awarded an engineering, procurement, fabrication and construction contract by Fort Hills Energy L.P. for the utilities scope of the Fort Hills oil sands mining project. The project is located about 90 kilometers north of Fort McMurray in Alberta, Canada. Fluor booked the contract for $1.3 billion in the third quarter of 2014.
“Fluor looks forward to delivering our integrated engineering, procurement, fabrication and construction solution to this significant project in Canada’s Athabasca oil sands,” said Jim Brittain, president of Fluor’s Energy & Chemicals business for the Americas region. “Fluor will apply our unique modular design and execution approach using our proprietary 3rd Gen Modular ExecutionSM technology. We will fabricate a significant number of components offsite in order to deliver both schedule and capital efficiencies to Fort Hills.”
The Fort Hills project will be developed as an open-pit truck and shovel mine and is planned to yield 180,000 barrels of bitumen per day at full production. First oil is expected as early as the fourth quarter of 2017.
The Fort Hills project is owned by Fort Hills Energy L.P., a partnership between Suncor Energy, Total E&P Canada Ltd. and Teck Resources Limited.
About Fluor Corporation
Fluor Corporation (NYSE:FLR) is a global engineering and construction firm that designs and builds some of the world’s most complex projects. The company creates and delivers innovative solutions for its clients in engineering, procurement, fabrication, construction, maintenance and project management on a global basis. For more than a century, Fluor has served clients in the energy, chemicals, government, industrial, infrastructure, mining and power market sectors. Headquartered in Irving, Texas, Fluor ranks 109 on the FORTUNE 500 list. With more than 40,000 employees worldwide, the company’s revenue for 2013 was $27.4 billion. Visit Fluor at www.fluor.com and follow on Twitter @FluorCorp.
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