Stork Joint Venture Awarded Engineering Services Contract for Dutch Assets in the North Sea

Fluor Corporation (NYSE: FLR) announced today that Neptune Energy awarded a four-year framework agreement to its Stork Worley Integrated Solutions joint venture for engineering, procurement, construction, installation and commissioning, and decommissioning services for a brownfield modification for Neptune Energy's Dutch assets in the North Sea. Fluor will book its portion of the undisclosed contract value in the first quarter of 2020.

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Stork’s Carla Rodenburg together with Lex de Groot, Neptune Energy, and Worley’s Jim Lenton sign a four-year engineering services agreement for Dutch assets in the North Sea. (L to R with pens in hand) (Photo: Business Wire)

Stork’s Carla Rodenburg together with Lex de Groot, Neptune Energy, and Worley’s Jim Lenton sign a four-year engineering services agreement for Dutch assets in the North Sea. (L to R with pens in hand) (Photo: Business Wire)

Neptune is the largest offshore gas and oil producer in the Dutch sector of the North Sea and is part of the Neptune Energy Group, an independent global exploration and production company.

“Stork is extremely pleased that Neptune Energy awarded the four-year framework agreement to the integrated partnership of Worley and Stork. Neptune Energy is an important player in the North Sea and we are proud to expand our existing relationship,” said Taco de Haan, Stork’s president. “Building on the long and successful history of executing projects together for offshore North Sea assets, Worley and Stork have teamed up again. Our combined multidiscipline expertise will help Neptune Energy achieve greater efficiencies with their offshore assets.”

“We are very happy to welcome Stork Worley Integrated Solutions as our partner in delivering our brownfield and decommissioning project scope,” said Lex de Groot, Neptune Energy’s Netherlands managing director. “Part of building a sustainable future for our business and delivering significant societal and economic benefits to the Netherlands is optimizing existing production. Therefore, the condition of our assets is crucial. Stork and Worley are experts in delivering the right people, services and solutions for brownfield modifications. For example, our L10A platform is the oldest platform on the Dutch part of the North Sea and has been producing since May 16, 1975. Next to optimizing our current production opportunities, we also keep exploring plays and participating in future developments such as the offshore green hydrogen pilot PosHYdon on our Q13a platform. We keep investing in the Netherlands to build a stable platform for future growth.”

The integrated partnership will drive leading performance in safety, excellence, teamwork, operations and project value for the brownfield and decommissioning scope.

About Stork

Stork, a Fluor company, continually improves the performance of its clients’ assets through a wide range of integrated, innovative and data-driven solutions, from operations and maintenance and to turnarounds and modifications. We are committed to growing our clients’ business sustainably and successfully by setting new standards of excellence in asset management. Underpinned with our core values, Safety, Integrity, Teamwork, Client Focus and Excellence, we aim to be the industry reference, every day, everywhere. For more information, please visit www.stork.com or follow us on Twitter @StorkTS.

About Fluor Corporation

Founded in 1912, Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company that transforms the world by building prosperity and empowering progress. Fluor serves its clients by designing, building and maintaining safe, well executed, capital-efficient projects around the world. With headquarters in Irving, Texas, Fluor ranks 164 on the Fortune 500 list with revenue of $19.2 billion in 2018 and has more than 53,000 employees worldwide. For more information, please visit www.fluor.com or follow Fluor on Facebook, Twitter, LinkedIn and YouTube.