Fluor Awarded Contract for World’s Largest Propylene Oxide and Tertiary Butyl Alcohol Plant

IRVING, Texas–(BUSINESS WIRE)–Fluor
Corporation (NYSE: FLR) announced today that it was selected by LyondellBasell
(NYSE: LYB) to perform the engineering and procurement for its propylene
oxide (PO) and tertiary butyl alcohol (TBA) project located at its
Channelview and Bayport complexes outside of Houston. Fluor booked the
undisclosed contract value into backlog in the third quarter of 2017.

The project represents the single-largest capital investment in
LyondellBasell’s history. When completed, the plant will produce 1
billion pounds per year of PO and 2.2 billion pounds per year of TBA. At
the peak of construction, the project is expected to create up to 2,500
jobs and approximately 160 permanent positions when operational.

PO is a building block of many everyday products, including bedding,
furniture, carpeting, coatings, building materials and adhesives. The
TBA will be converted to fuel additives that help gasoline burn cleaner
and reduce automobile emissions.

“This facility is a strategic part of LyondellBasell’s organic growth
plans and we are pleased to continue our partnership on this project,”
said Mark
Fields, president of Fluor’s Energy & Chemicals business in the
Americas. “Using our Zero Base ExecutionSM approach, the
LyondellBasell and Fluor team developed a fit-for-purpose solution that
optimized the plant design, leveraged global procurement opportunities
and implemented a cost-effective modularization approach. Our integrated
solutions approach substantially reduced the facility’s capital costs
and helped LyondellBasell achieve their final investment decision on
this world-scale chemical facility.”

LyondellBasell is one of the largest plastics, chemicals and refining
companies in the world and has world-leading PO/TBA technology. Fluor
has participated in the project since the commencement of front-end
engineering and design in 2015. Project completion is expected in
2021.

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 billion in 2016 and has more than 60,000
employees worldwide. For more information, please visit www.fluor.com
or follow Fluor on social media at Facebook,
Twitter,
LinkedIn
and YouTube.

About LyondellBasell

LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and
refining companies in the world. Driven by its 13,000 employees around
the globe, LyondellBasell produces materials and products that are key
to advancing solutions to modern challenges like enhancing food safety
through lightweight and flexible packaging, protecting the purity of
water supplies through stronger and more versatile pipes, and improving
the safety, comfort and fuel efficiency of many of the cars and trucks
on the road. LyondellBasell sells products into approximately 100
countries and is the world's largest licensor of polyolefin and
polypropylene technologies. More information about LyondellBasell can be
found at www.lyondellbasell.com.

Contacts

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