) won an engineering, procurement and construction contract from
Shell. Fluor will be working on Shell's carbon capture facility for
its Carbon Capture and Storage (CCS) Quest project, which is first
of its kind, at the Athabasca Oil Sands project in Alberta, Canada.
The value of the contract has not been disclosed but it will be
included in the third quarter booking of Fluor.
The Athabasca Oil Sands Project is jointly owned by Shell,
Chevron and Marathon Oil and has the support of the Canadian and
Alberta governments. The CCS project won is first-of-its kind. The
Athabasca Oil Sands Project produces bitumen, which is piped to
Shell's Scotford Upgrader.
Fluor will use its 3
Gen Modular Execution approach for the carbon capture facility at
the Scotford Upgrader near Edmonton, Alberta. The facility has the
capacity to capture 1.1 million of carbon tonne-per-year. The
carbon captured at the facility will be sent to an underground
storage site about 80 kilometers from the facility. Preliminary
services and front-end engineering and design of Fluor are being
used by Quest since 2009.
Flour has been working on CCS technology for the past two
decades. Further, the company has worked on a number of projects of
Shell and in Canadian oil sands industry. The receipt of such an
important contract testifies the fact that Fluor's CCS technology
occupies an enviable position has good regard in the market it
The technology helps customers to take care of their carbon
footprint and sustainability needs. Thus, Fluor has played a
significant role and has been involved in keeping the environment
meticulously clean by providing clean energy for a long time with
the help of its technology.
Fluor serves a diverse set of industries worldwide, including
oil and gas, chemical and petrochemicals, transportation, mining
and metals, power, life sciences and manufacturing. It is also a
primary service provider to the U.S. federal government. The
company's prime competitor is
Jacob's Engineering Group
We continue to maintain a Neutral rating on Fluor for the long
term. The company has a Zacks #2 Rank (Buy recommendation) over the
next one-to-three months.
FLUOR CORP-NEW (FLR): Free Stock Analysis
JACOBS ENGIN GR (JEC): Free Stock Analysis
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