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Fluor Forms Alliance With Chinese Oil Company

Posted on: Fri, 20 Nov 2009 04:00:00 EST

Symbols: FLR

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Nov 20, 2009 (FinancialWire via COMTEX) --
FLR | Quote | Chart | News | PowerRating -- (Comment on this article at http://www.financialwire.net/2009/11/20/fluor-forms-alliance-with-chinese-oil-company/)

New Alliance to Pursue Large Projects in China & Australia

November 20, 2009 (FinancialWire) -- Fluor Corp. (NYSE: FLR | Quote | Chart | News | PowerRating) said it has entered into a formal alliance with Offshore Oil Engineering Corp. Ltd., a subsidiary of China National Offshore Oil Corp. Ltd., in the pursuit of large offshore oil & gas projects in the Asia-Pacific region including China and Australia.

COOEC and Fluor have developed a working relationship that began with cooperation in the early 1990s, according to Jiang Xizhao, president of COOEC. The alliance will focus on both shallow and deep water as well as fixed and floating facility projects in the region with the possibility of leveraging the alliance globally in other regions and industries on a case-by-case basis.

Texas-based Fluor provides capabilities in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management.

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Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

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