ICA Fluor to Construct Pemex Offshore Production Platform in Gulf of Mexico
ICA Fluor, the industrial construction joint venture of Empresas ICA, S.A. B de C.V. (NYSE: ICA) and Fluor Corporation (NYSE: FLR), announced the signing of a contract with Pemex Exploration and Production for the construction of an offshore production platform for the Ku-Maloob-Zaap field in the Gulf of Mexico with a total contract value of $95 million. Fluor's share of the contract, $47.5 million, will be booked in the second quarter.
ICA Fluor and its subsidiary Industria del Hierro will be responsible for the procurement, construction, testing, and load out of the Ayatsil-C platform. Weighing 11,832 tons and reaching 132 meters deep, Ayatsil-C the first structure of this size to be installed by Pemex. The project is expected to be completed by the end of 2013.
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