Fluor Awarded Kuwait's Al-Zour Contracts

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Fluor Awarded Kuwait’s Al-Zour Contracts

Fluor Corporation (NYSE: FLR) announced today that its joint venture team was selected by Kuwait National Petroleum Company (KNPC) as the preferred bidder for two engineering, procurement and construction (EPC) packages. Facilities in the two packages will include a variety of key process units, utilities and infrastructure for the new Al-Zour oil refinery project in Kuwait that is expected to produce 615,000 barrels-per-day. Fluor booked its $2.6 billion portion of the contract in the third quarter of 2015.

Fluor is leading the joint venture, known as FDH JV, which consists of Fluor, Daewoo Engineering and Construction, and Hyundai Heavy Industries. The FDH JV is currently executing one package in the KNPC Clean Fuels project and will begin activities on the newly awarded Al-Zour packages soon.

“Fluor is proud to continue our long-standing relationship with KNPC, which spans more than five decades, and to become part of this prestigious and strategically important Al-Zour project,” said Taco de Haan, president of Fluor’s Energy & Chemicals Europe, Africa and Middle East business line. “From the onset, and throughout every phase of the project, our focus will be on the safe and efficient construction, commissioning and start-up of this new refinery.”

The Al-Zour refinery complex will be built on a greenfield site located south of Kuwait City. When completed, the new complex is expected to be one of the largest refineries in the world.

Link & Source: The EPC Engineer

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.