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Fluor Wins Top Australian Engineering Excellence Award
IRVING, Texas, Feb 05, 2007 (BUSINESS WIRE) -- Fluor Corporation (NYSE:FLR) and its partners ConocoPhillips and WorleyParsons have been awarded the top engineering honor by Engineers Australia, besting 40 other finalists.

The Sir William Hudson Award was presented for the $2.5 billion Bayu-Undan Gas Recycle Project, an offshore liquid stripping plant for oil and gas owned by ConocoPhillips.

The Bayu-Undan Gas Recycle Project is one of the most complex liquid stripping projects ever built offshore. The project, located in the Timor Sea, north of Australia, includes a remote wellhead platform that serves as a drilling center for 14 wells and a central production and processing platform connected via a bridge to a compression, utilities and quarters platform.

Innovations in the project include the processing design concept that reduced pipeline costs by $25 million; the world's first multiuse separate propane, butane and condensate floating storage facility and offloading vessels. Construction of the project met stringent environmental, technical and safety standards. The complexity of the project was compounded by its remote location and its sheer size.

The team used state-of-the-art processing technology and comprehensive risk analysis to manage the process complexities. Facilities and other structures were extensively modeled in 3D utilizing advanced PDS model technology.

Bayu-Undan Phase 1 had in excess of US$100M capital expenditure savings. The first gas and condensate was reached on schedule and exceeded production targets by 22 percent in its first year.

The Sir William Hudson Award was presented in fourth quarter 2006 at Parliament House in Canberra, Australia. Engineers Australia is the national forum for the advancement of engineering and the professional development of engineers. With an excess of 80,000 members embracing all disciplines of the engineering team, Engineers Australia is the largest and most-diverse professional body for engineers in Australia.

Fluor Corporation (NYSE:FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $13.2 billion in 2005. For more information, visit www.fluor.com.

(FLRG)

SOURCE: Fluor Corporation

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