Fluor Awarded Construction Contract for MEGlobal Project in Freeport, Texas

Fluor’s fifth major construction project in Freeport over the past
six years.

IRVING, Texas–(BUSINESS WIRE)–#Texas—Fluor
Corporation (NYSE: FLR) announced today that MEGlobal, a
wholly-owned subsidiary of EQUATE Petrochemical Company, awarded the
company a contract for mechanical construction of its new monoethylene
glycol (MEG) manufacturing facility in Freeport, Texas. Fluor will book
the undisclosed contract value in the first quarter of 2018.

“This is Fluor’s fifth major construction project in Freeport over the
past six years,” said Jack
Penley, senior vice president of Construction & Fabrication for
Fluor. “This will be MEGlobal’s first manufacturing unit in the United
States, and our construction team’s focus on safety and quality are
among the reasons that Fluor is the construction contractor of choice
for the Freeport market.”

Fluor’s mechanical construction scope includes the installation of
equipment, steel and piping for the MEG process unit. About 1,000 craft
professionals are expected at peak construction for Fluor’s scope.

MEG is a key building block for polyester fibers, plastic bottles and
other everyday items. Operations are expected to begin in 2019.

About Fluor Corporation

Fluor
Corporation (NYSE: FLR) is a global engineering, procurement,
fabrication, construction and maintenance company that designs, builds
and maintains capital-efficient facilities for its clients on six
continents. For more than a century, Fluor has served its clients by
delivering innovative and integrated solutions across the globe. With
headquarters in Irving, Texas, Fluor ranks 149 on the Fortune 500
list with revenue of $19.5 billion in 2017 and has more than 56,000
employees worldwide. For more information, please visit www.fluor.com
or follow Fluor on social media at Facebook,
Twitter,
LinkedIn
and YouTube.

About MEGlobal

MEGlobal – an EQUATE company – is a world leader in the manufacture,
supply and marketing of monoethylene glycol (MEG) and diethylene glycol
(DEG), collectively known as ethylene glycol (EG). MEGlobal serves
customers around the world, and has production facilities in Fort
Saskatchewan and Prentiss, Alberta, Canada. EG is a key raw material
used in a wide variety of products and applications including the
manufacture of polyester fibers, polyethylene terephthalate resins
(PET), antifreeze formulations and other industrial products. MEGlobal
embraces the principles of Responsible Care, ensuring that its
employees, neighbors, communities and the environment are protected at
all times. For more information, visit www.MEGlobal.biz
and www.equate.com.

About EQUATE Group

The EQUATE Group* is a global producer of petrochemicals and the world’s
second largest producer of Ethylene Glycol (EG). The Group has
industrial complexes in Kuwait, North America and Europe that annually
produce over 5 million tons of Ethylene, EG, Polyethylene (PE) and
Polyethylene Terephthalate (PET). The products are marketed throughout
Asia, the Americas, Europe, the Middle East and Africa. The EQUATE
Group’s shareholders include Petrochemical Industries Company (PIC), The
Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and
Qurain Petrochemical Industries Company (QPIC). The Group is a leading
enterprise that pursues sustainability wherever it operates through
partnerships in fields that include the environment, economy and
society. www.equate.com.

*The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), its
subsidiaries and The Kuwait Olefins Company (TKOC).

Contacts

Fluor Corporation
Media Relations:
Brian Mershon, 469-398-7621
or
Brett
Turner, 864-281-6976
Investor Relations:
Geoff Telfer,
469-398-7070
or
Jason Landkamer, 469-398-7222