UPDATE 1-Fluor extends offshore reach with CNOOC partnership

2009年 11月 20日 星期五 05:56 BJT
 

* Builds on 10-year relationship with CNOOC unit

* Follows deal in August for Middle East offshore work

SAN FRANCISCO, Nov 19 (Reuters) - Fluor Corp (FLR.N: 行情) has added another weapon in its fight to win more offshore energy work through an alliance with China's Offshore Oil Engineering Corp (COOEC) (600583.SS: 行情) for the Asia-Pacific region.

The partnership of Fluor, the largest publicly traded U.S. engineering company, and the subsidiary of China National Offshore Oil Corp (CNOOC) (0883.HK: 行情) covers the lucrative Australian market, and reinforces their decade-long relationship.

This dovetails with Fluor's deal in August with Global Industries Ltd (GLBL.O: 行情) to pursue offshore projects in the Middle East and North Africa, and follows the creation of Fluor's dedicated offshore oil and gas unit late last year.

"The alliance with COOEC adds complementary strengths for both companies in the pursuit of large offshore projects," Peter Oosterveer, president of Fluor's energy and chemicals group, said in a statement.

Rival McDermott International Inc (MDR.N: 行情) reported surprisingly good quarterly profit growth last week, largely due to the strength in its offshore business. [ID:nN09278710]

Fluor said COOEC has significant capacity for fabrication as well as 2,000 designers and engineers and 23 diversified marine vessels to support offshore construction. (Reporting by Braden Reddall; Editing by Tim Dobbyn)

 
 

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