Saudi Aramco and Dow joint venture to build one of world's largest chemical complexes

IRVING, Texas- Aug. 4, 2011 -(BUSINESS WIRE/ME NewsWire)-- Fluor Corporation (NYSE: FLR) announced today that the Saudi Arabian Oil Company (Saudi Aramco) and The Dow Chemical Co. (Dow) (NYSE: DOW) have awarded the firm a reimbursable engineering, procurement and construction management (EPCM) contract for all of the utilities and offsites at the al-Jubail chemical complex in Saudi Arabia. The complex will be owned and operated by the Sadara Chemical Company (Sadara), a joint venture to be formed by Saudi Aramco and Dow. Fluor booked the undisclosed value in the second quarter.

The new chemicals complex is expected to be the largest single-phase development in the world, with a planned investment of $20 billion. Ensuring that the utilities, offsites and infrastructure and interconnecting piping arrangements are timely is a vital component of this unprecedented project.

Fluor's al-Khobar, Saudi Arabia; Farnborough, UK; Manila, Philippines; and Houston offices will collaborate on delivering the contract requirements.

Fluor has a long-standing relationship with Dow working on many successful projects over the past decades. This significant award has positioned Fluor to re-engage with Saudi Aramco and to continue working with Dow.

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About Fluor Corporation
Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $20.8 billion in 2010. For more information, visit www.fluor.com.

*Source: ME NewsWireThe press release can be viewed online: http://www.me-newswire.net/news/3985/en Contacts

Fluor Corporation
Media Relations
Keith Stephens, 469-398-7624
or
Brian Mershon, 469-398-7621
or
Investor Relations
Ken Lockwood, 469-398-7220
or
Jason Landkamer, 469-398-7222

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© Press Release 2011