Skip to main content

Fluor and COOEC form new joint venture

Published by
LNG Industry,

Fluor Corp. and Offshore Oil Engineering Co. Ltd (COOEC), a subsidiary of China National Offshore Corp., have formed a new fabrication joint venture called COOEC Fluor Heavy Industries Co. Ltd (CFHI). CFHI will operate and manage the Zhuhai Fabrication Yard in China’s Guangdong province. Fluor will hold 49% in the joint venture, and COOEC will hold 51%.

Chairman and CEO of Fluor, David Seaton, said: “COOEC Fluor Heavy Industries is an important strategic alliance, as it positions Fluor to develop a more powerful presence in the global construction and fabrication market, and enhances our abilities to serve and grow our client base in Asia-Pacific and around the world. Our customers are enthusiastic about this venture’s ability to delivery very large cost-efficient structures.”

As part of the joint venture, Fluor will make two stages of investments: an initial cash investment of US$350 million after all regulatory approvals are received, which is targeted for late 2015, and a US$139 million investment in 3Q16.

Edited from press release by

Read the article online at:

You might also like


[WEBINAR] Why Risk-Adjusted Project Forecasting Is Becoming the New Norm

This webinar will walk the audience through a methodology for developing risk-adjusted plans, leveraging remote collaboration techniques for disparate and socially distanced teams. This next-generation risk management approach is already proving itself on numerous oil and gas CAPEX projects. Find out why InEight expects the trend of risk-adjusted scheduling adoption to continue. Register for free today »


Embed article link: (copy the HTML code below):