Fluor Continues Building Its Extensive Clean Fuels Resume

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Thursday, May 30, 2002

Fluor Corporation (NYSE: FLR) today announced that it has been selected to provide engineering and procurement services in support of Conoco's clean fuels program at its refinery located in Ponca City, Oklahoma. Fluor's contract value for the scope of work is $9.2 million and will be booked in the second quarter of 2002.

The project includes the construction of a new gasoline desulfurizer using the Prime-G+ process from the French technology provider Axens. Engineering is underway in Fluor's offices in Houston, TX. Construction will commence in July of this year, and the refinery is scheduled to be operational in the fourth quarter of 2003.

"We are pleased to bring Fluor's extensive experience in clean fuels upgrades to support Conoco's business requirements," said Kirk Grimes, group executive of Fluor's Energy & Chemicals unit. "We believe our results will provide us with other opportunities to work with Conoco on clean fuels projects."

Fluor is the world's leading designer of new and revamped clean fuels production facilities. The company executed numerous clean fuels projects in California in the early 1990s to meet the 1993 California Air Resources Board (CARB) diesel and 1995 CARB gasoline specifications, which are among the most stringent in the world. Fluor is additionally working with several other domestic refiners, particularly in the Gulf Coast region, to meet the EPA regulations.

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