The joint venture (JV) between
) and JGC Corporation recently received a contract from Chevron
Phillips Chemical Company LP. The contract requires the JV to
provide engineering, procurement and construction (EPC) services
to Chevron's U.S. Gulf Coast petrochemicals project. The
financials were not disclosed, but the contract was booked in the
third quarter by Fluor.
This is the first contract received by the joint venture. The
JV will provide EPC services for the outside battery limit scope
and the direct hire construction for the entire cracker project.
Located in Baytown, Texas, this petrochemicals project
primarily comprises ethylene unit cracker and associated offsite
components that are required to be built at Chevron's Cedar Bayou
complex. Cracker in the petrochemical industry is referred to a
facility where it takes oil & gas and breaks them up into
smaller molecules. Therefore, an ethane cracker creates ethylene,
a compound used in the manufacture of plastic.
Headquartered in The Woodlands, Texas, Chevron Phillips
Chemical is one of the world's top producers of olefins and
polyolefins and a leading supplier of aromatics, alpha olefins,
styrenics, specialty chemicals, piping, and proprietary plastics.
Chevron Phillips Chemical owns three world-scale plants in the
State of Qatar, including Q-Chem, a world-scale ethylene,
polyethylene and 1-hexene complex; RLOC, one of the world's
largest ethane crackers; and Q-Chem II, a world-scale olefins and
Fluor Corporation has a strong presence and brand name in
executing the FEED and EPC contracts in large petrochemical
companies. In Jul 2013, Fluor procured a front-end engineering
and design (FEED) contract for Sasol's Lake Charles Chemical
Complex situated in Louisiana. This facility, once completed,
will be a world-class ethane cracker and associated derivative
chemicals facility of this Johannesburg-based integrated energy
and chemical company, Sasol Ltd.
Fluor currently has a Zacks Rank #3(Hold). Other companies in
the petrochemicals industry which look promising at the moment
Micheal Baker Corporation
Foster Wheeler AG
Quanta Services Inc
). Micheal Baker has a Zacks Rank #1 (Strong Buy), while Foster
Wheeler and Quanta Services carry a Zacks Rank # 2
BAKER (MICHAEL) (BKR): Free Stock Analysis
FLUOR CORP-NEW (FLR): Free Stock Analysis
FOSTER WHELR AG (FWLT): Free Stock Analysis
QUANTA SERVICES (PWR): Free Stock Analysis
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