Fluor Corporation Secures $2.6 Billion Contract in Kuwait National Petroleum Company Project

Fluor Corporation, through its joint venture FDH, has been selected by the Kuwait National Petroleum Company to provide engineering, procurement, and construction services for two packages of the Clean Fuels project at the Al-Zour oil refinery site. This contract is a significant win for Fluor, with a total value of $2.6 billion, paid in the third quarter of 2015. The project aims to develop a large oil refining plant, with a production capacity of 615,000 barrels per day, making it one of the largest in the world. The contract highlights Fluor's efficiency in providing EPC services, and experts believe this trend will continue in the future.

Key Takeaways:

Fluor Corporation's joint venture FDH has been selected by Kuwait National Petroleum Company to provide EPC services for two packages of the Clean Fuels project at the Al-Zour oil refinery site.
The contract is valued at $2.6 billion, paid in the third quarter of 2015.
The project aims to develop a large oil refining plant with a production capacity of 615,000 barrels per day.
Fluor is currently working on one of the KNPC packages for the Clean Fuels project.
The company is also selected by PTT Global Chemical Public Company to offer front-end designing and engineering services for a petrochemical complex at Belmont County.
In addition, Fluor was selected by Sasol Group Technology to offer services for small and medium oil and gas projects.
Ongoing volatility in commodity prices and increasing competition in the industry are major concerns for Fluor.
The company's Zacks Rank is #3 (Hold).

Statistics:

$2.6 billion: value of the contract awarded to Fluor Corporation
3rd quarter of 2015: quarter in which the contract was paid
615,000 barrels per day: production capacity of the new oil refining plant
2: number of packages for which FDH has been selected by KNPC
1: number of package on which FDH is currently working
2015: year in which Fluor was selected by PTTGC and Sasol Group Technology

Sources:

"Fluor Corporation Secures $2.6 Billion Contract in Kuwait National Petroleum Company Project". Retrieved from SyndiGate Media Inc.