Fluor Corporation
(
FLR
) announced that it has received a contract from
Williams Companies Inc.
(
WMB
) to provide groundwork engineering services for a propane
dehydrogenation project set to come up in Alberta, Canada.
With the help of this new propane dehydrogenation, Williams
intends to utilize the propane recovered from its extraction
facility at Alberta and convert it into polymer grade propylene,
which is used to make plastics.
Fluor has logged this contract in the fourth quarter order
book in the Power segment (contributing 3.2% of consolidated
revenues). This segment primarily provides a full range of
services to the gas fueled, solid fueled, renewables, nuclear and
plant betterment marketplaces.
In the gas fueled market, it offers a full range of services
for simple and combined cycle reference designs as well as
complete solutions for Integrated Gasification Combined Cycle
(IGCC) technologies.
Williams is a leading diversified company focused on natural
gas transportation; gathering, treating, and processing; storage;
natural gas liquid (NGL) fractionation; and oil
transportation.
Given Fluor's expertise, logistics and procurement
capabilities as well as project management experience, the
company is all set to provide its skill to the first propane
dehydrogenation facility in Canada. The financial terms of the
contract were not disclosed.
In the first half of 2012, Fluor received a number of
contracts including the TCO contract in Kazakhstan, a contract
from Reliance Industries in India and Pemex in Mexico. In
addition, the company also had incremental scope on oil sands and
offshore projects in Canada.
In the last reported quarter (3Q12), new awards remained
strong at $6.3 billion. In 2011, new awards were $26.9 billion.
The company is benefiting from substantial increase in sizable
orders within the Oil & Gas segment.
Consolidated backlog rose to a new high of $40.8 billion in
2011, an increase of 13% from the end of 2010. The company's
international marketremained robust, with 84% of awards derived
from outside the US with focus on Australia, the Middle East,
Latin America and Canada.
Fluor currently has a Zacks Rank #3 (Hold) while some of its
competitors such as
Jacobs Engineering Group
(
JEC
),
Tyco International Ltd.
(
TYC
),
Clean Energy Fuels Corp.
(
CLNE
) carry a Zacks Rank #2 (Buy).
CLEAN EGY FUELS (CLNE): Free Stock Analysis
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FLUOR CORP-NEW (FLR): Free Stock Analysis
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JACOBS ENGIN GR (JEC): Free Stock Analysis
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TYCO INTL LTD (TYC): Free Stock Analysis
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WILLIAMS COS (WMB): Free Stock Analysis
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