ICA Fluor Signs Contract to Build Offshore Living Quarters Module

ICA Fluor, the industrial engineering company jointly owned by Fluor Corp. and Empresas ICA, has announced a US$90 million contract for modular construction of offshore living quarters for PEMEX Exploration and Production.

The quarters can house up to 150 people and will be built in Veracruz State, Mexico. The facility will be located in the Gulf of Mexico to serve several offshore fields, such as Cantarell, Ku-Maloob-Zap.

The US$90 million contract was awarded to ICA Fluor's subsidiary Industria del Hierro (IH) through an international public bidding process. IH is dedicated to the construction of offshore platforms and modules. The contract will be booked in fourth quarter 2006 and the value will be split evenly between Fluor and Empresas ICA.

Construction is slated to begin in February 2007. The contract is expected to be completed by June 2008. The project involves engineering, procurement, construction, load out and seabed fastening as well as dismantling and transportation of the existing offshore facilities.

PEMEX Exploration and Production is a subsidiary of PEMEX, Mexico's state-owned integrated oil and gas company. Industria del Hierro's Mata Redonda yard in Veracruz State, Mexico, is the fabrication site.

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Posted 05/12/06

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