Fluor Consortium Awarded Engineering, Procurement and Construction Contract for Natural Gas Development Project in Brazil

abarrelfullabarrelfull wrote on 14 May 2015 11:20

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Fluor Corporation’s (NYSE: FLR) Brazil unit was part of a consortium awarded a contract by Parnaíba Gás Natural (PGN) for engineering, procurement and construction (EPC) of a natural gas field development project in the state of Maranhão, Brazil. The Brazil-based consortium includes Fluor, Construcap CCPS Engenharia e Comércio and CFPS Engenharia e Projetos S.A. (CFPS). Fluor will book its portion of the $100 million contract value in the second quarter of 2015.

PGN is Brazil’s leading private gas exploration and production company, working primarily in the Parnaíba Basin. The consortium will be responsible for the EPC of an 8.5 million-cubic-meters-per-day gas gathering system in the Gavião Branco field, as well as a gas pipeline that will transport the gas to an existing production and treatment facility located at the Gavião Real field.

“This award represents a key EPC project for Fluor in Brazil,” said Jim Brittain, president of Fluor’s Energy & Chemicals Americas business line. “It speaks to the value of working closely with our client, starting with the project definition, to identify and implement the most capital efficient integrated solution.”

“This project is the result of the growing relationship between Fluor and Construcap that started with the formation of CFPS in 2012,” said Andrés Beran, vice president of sales for Latin America. “We are focused on bringing integrated project solutions to our clients in Brazil to support their business growth.”

This EPC contract follows an award to the consortium earlier this year for the initial engineering and design work for the project. Work has begun in CFPS’s São Paulo, Brazil office, and is expected to be complete in early 2016.

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