Fluor Selected by Galp Energia for Front-End Engineering & Design Work for Refinery Conversion in Portugal

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Oct. 22, 2007

Fluor Corporation (NYSE:FLR) announced today that it was awarded a contract by Galp Energia to provide front-end engineering and design (FEED) and early procurement services of main equipment for a refinery conversion project in Porto, Portugal. The Phase 1 FEED work will be booked in fourth quarter 2007.

"We are pleased to once again be working for Galp Energia," said David Seaton, president of Fluor's Energy & Chemicals Group. "Repeat business is something we truly value, and we see it as a reflection of the quality work and commitment provided by every member of the Fluor team."

The conversion project will add a grassroot vacuum flash and distillation unit, a visbreaker, a diesel hydrodesulphurization units and associated utilities and infrastructure to the Galp's Porto Refinery and is part of an investment program that will allow Galp to increase the diesel production by 50,000 barrels per day and the utilization rate of the existing refineries, allowing Galp to process heavier crudes and meet the latest environmental regulations.

In 2002, Fluor built a grassroot hydrodesulphurization unit for Galp at its Sines refinery. Fluor offices in Madrid and Camberley, U.K., will execute the refinery conversion work along with local Portuguese companies.

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