ICA Fluor Subsidiary Signs Contracts to Build Four Offshore Drilling Platforms for Pemex

abarrelfullabarrelfull wrote on 19 Jan 2013 08:17

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Monday, June 21, 2004

ICA Fluor, the industrial engineering company jointly owned by Fluor Corporation (NYSE: FLR) and Empresas ICA Sociedad Controladora (NYSE: ICA), today announced that it has signed four separate contracts, each for the fabrication of an offshore drilling platform to be installed in the northeast region of Campeche Bay in the Gulf of Mexico.

The contracts, worth nearly $169 million dollars, were awarded by Pemex Exploracion y Produccion to a subsidiary of ICA Fluor, Industria del Hierro, located in Mata Redonda and Empalme, Veracruz, Mexico.

The contracts are for engineering, procurement, construction, load out, sea-fastening and technical assistance during installation of the platforms.

Total weight of the four platforms, which are scheduled for completion in August 2005, is approximately 30,000 tons.

The four drilling platforms will help increase the oil production in the sea field of Ku-Maloob-Zaap, in the Gulf of Mexico, to replace production from the Cantarell Field.

"These four projects confirm the ICA Fluor and Industria del Hierro positioning, competitiveness and success in the offshore fabrication business," said Jorge Borja, ICA Fluor's general director.

Pemex Exploracion y Produccion is a subsidiary of Pemex, the Mexican state-owned petroleum company.

ICA Fluor is the leading industrial engineering company in Mexico, dedicated to the engineering, procurement, and construction of telecommunication installations and chemical, petrochemical, automotive, refinery and electricity generation plants.

Industria del Hierro (IH) has fabrication yards located in Mata Redonda and Empalme, Veracruz, and is 100 percent owned by ICA Fluor. With more than 35 years of experience in the offshore market, IH has executed more than 60 marine projects; built platforms for use in water depths of 100 to 230 feet, and processed up to 40 thousand tons per year.

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