BAKU, Azerbaijan, November 5. US-based Fluor Corporation and Venezuelan engineering and construction company Inelectra have signed a memorandum of understanding (MoU) to support existing and future clients in Venezuela's energy, petrochemical and industrial sectors.
The corporation announced that the agreement provides for the companies intend to combine Fluor's international engineering, procurement, construction and project management expertise with Inelectra's nearly 60 years of experience in the Venezuelan market, including its local business relationships and project delivery capabilities.
Fluor Energy Solutions Business Group President Pierre Bechelany said the companies aimed to establish a locally based platform to support increased investment by international energy companies in Venezuela.
“By combining both our companies’ local and global capabilities, we will deliver critical projects that support long-term economic growth throughout Venezuela,” he said.
Fluor has completed more than 40 capital projects in Venezuela since 1982, covering the upstream and downstream oil and gas sectors, petrochemicals and power generation.
One of its major projects was the Hamaca Crude Upgrader at the Jose Industrial Complex, developed by a joint venture between Fluor and Inelectra. The facility, completed in 2004, was designed to process up to 190,000 barrels of extra-heavy crude oil per day.
Inelectra is one of Venezuela’s leading engineering and construction companies, founded in 1968 and headquartered in Caracas. With more than five decades of experience, the firm has executed over 3,300 projects in the oil and gas, petrochemical, power generation and industrial sectors across Latin America, the Caribbean, Europe and the Middle East.
Fluor Corporation is a global engineering, procurement, construction and project management company founded in 1912 and headquartered in Irving, Texas. With nearly 23,000 employees worldwide, the company provides professional and technical solutions across a wide range of industries through its Urban Solutions, Energy Solutions and Mission Solutions business segments.
