Fluor secures Canadian oil sands contract

Fluor Corp.

Fluor Corp. (NYSE: FLR) has been awarded an engineering, procurement, fabrication, and construction contract by Fort Hills Energy LP for the utilities scope of the Fort Hills oil sands mining project. The project is located about 90 kilometers north of Fort McMurray in Alberta, Canada. Fluor booked the contract for $1.3 billion in the third quarter of 2014.

The Fort Hills project will be developed as an open-pit truck and shovel mine, and is planned to yield 180,000 barrels of bitumen per day at full production. First oil is expected as early as the fourth quarter of 2017.

The Fort Hills project is owned by Fort Hills Energy LP, a partnership between Suncor Energy, Total E&P Canada Ltd., and Teck Resources Ltd.

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