Fluor Awarded Marathon's Detroit Refinery Expansion Contract

abarrelfullabarrelfull wrote on 05 Apr 2013 12:20

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Friday, January 4, 2008

Fluor Corporation (NYSE:FLR) will provide integrated engineering, procurement and construction (EPC) for Marathon Oil Corporation’s (NYSE: MRO) projected $1.9 billion expansion and upgrade of the company’s Detroit, Mich., refinery. The $1.6 billion EPC contract includes services, the value of procured materials and the construction contracts under Fluor’s direct management. The full EPC contract value will be booked in the fourth quarter of 2007.

“Energy security is an important topic today. When this project is completed, Fluor will have assisted Marathon in increasing the Detroit refinery’s heavy oil processing capacity, including Canadian bitumen blends, by about 80,000 barrels per day (bpd) and its total crude oil refining capacity by about 15 percent, from 100,000 bpd to 115,000 bpd,” said David Seaton, president of Fluor’s Energy & Chemicals Group.

Construction is expected to begin within the next few months, subject to receiving the applicable regulatory permits. The project is expected to be completed in late 2010, adding more than 400,000 gallons of clean transportation fuels per day to the marketplace.

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