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Fluor’s Kuwait OL2K Petrochemicals Project Achieves Major Safety Milestone

September 30, 2008

Fluor Corporation (NYSE: FLR) announced today that its Olefins II Kuwait (OL2K) petrochemicals project logged more than 35 million craft hours without a lost time safety incident effective from September 2007 through September 2008.

“This significant safety achievement can only be attributed to our entire project team’s absolute, uncompromising dedication to safe work practices daily,” said Ian Spears, Fluor’s site safety manager.

Fluor applies its “Zero Incident” program to every project in order to educate employees and all project workers to the importance of safe work practices.

Fluor is providing engineering, procurement and construction management services for the utilities and infrastructure and the polyethylene unit upgrade of the OL2K project, a major petrochemical project in Kuwait. This scope is in addition to the program management contract, which was awarded in 2004 to perform overall project management and front-end engineering services.

The development of the Olefins II complex is being overseen by a joint venture of the local Petrochemical Industries Company (PIC) and The Dow Chemical Company. Groundbreaking occurred in March 2005, with completion of the complex expected early 2009.

“It is the leadership, focus, vigilance, and ability to continue to look for improvements which form the foundation for this accomplishment,” said Bob Midgley, Fluor’s project director.

The more than $3 billion integrated petrochemical complex is located approximately 25 miles south of Kuwait City in Shuaiba. It includes the construction of an 850,000-tons-per-year cracker, a 600,000-tons-per-year ethylene glycol unit, a 450,000-tons-per-year ethyl benzene/styrene monomer unit and the expansion of an additional 225,000 tons-per-year of polyethylene capacity at the existing complex. The completed facility will more than double the capacity at the existing olefins complex.

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 $16.7 billion in 2007. For more information, visit www.fluor.com.

(FLRG)




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