Market Overview

COOEC-Fluor Completes Module Fabrication for Huizhou Oilfield Project


Project completed safely and on schedule

(NYSE:FLR) announced today that its joint venture
COOEC-Fluor Heavy Industries, Co., Ltd. (COOEC-Fluor)
fabrication yard has safely completed fabrication of the topsides,
living quarters and drilling modules for the CNOOC HZ32-5/33-1 Oilfield
Joint Development Project. The modules sailed away on schedule in July,
destined for the Huizhou 32-5 oilfield development approximately 105
miles southeast of Hong Kong in the Pearl River Mouth basin of the South
China Sea.

This press release features multimedia. View the full release here:

The CNOOC HZ32-5/33-1 Oilfield Joint Development Project platform. (Photo: Business Wire)

The CNOOC HZ32-5/33-1 Oilfield Joint Development Project platform. (Photo: Business Wire)

"Both the COOEC-Fluor and CNOOC project management teams successfully
overcame numerous challenges to complete the onshore construction as
scheduled, with zero punch list items for onshore fabrication work,"
said Lianfeng Yang, CNOOC's engineering, procurement and construction
project manager. "We look forward to the COOEC-Fluor team successfully
completing the close-out activities and sea fastening work."

The fabrication yard delivered to the aggressive schedule and fabricated
the 4,000-ton, 4-deck topsides in less than 12 months with no follow-on
work. Safety, a core value of the COOEC-Fluor yard, was at the forefront
of all activities and the team achieved 1.5 million work hours without a
lost-time incident.

"The project team optimized the fabrication methods and onshore
commissioning scope, which minimized the schedule-intensive offshore
installation requirements to maintain schedule," said Chris Vertanness,
vice president of Fluor and director of operations at the COOEC-Fluor
fabrication yard. "The team's planning, productivity and execution
excellence enabled the delivery of the modules with the safety and
schedule certainty our clients expect."

The platform is expected to continue to produce oil until after 2030.

About Fluor Corporation

Founded in 1912, Fluor
(NYSE:FLR) is a global engineering, procurement,
fabrication, construction and maintenance company that transforms the
world by building prosperity and empowering progress. Fluor serves its
clients by designing, building and maintaining safe, well executed,
capital-efficient projects around the world. With headquarters in
Irving, Texas, Fluor ranks 153 on the Fortune 500 list with
revenue of $19.5 billion in 2017 and has more than 56,000 employees
worldwide. For more information, please visit
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and YouTube.

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