Date: July 10, 2006
Source: Fluor Corporation
Fluor Limited, the United Kingdom operating arm of Fluor Corporation (NYSE: FLR), and British Nuclear Group's specialist decommissioning business, Project Services, announced today that their partnership has successfully secured a contract with the Russian Foundation for Environmental Safety of Power Engineering.
Fluor Ltd and Project Services will assist with the decommissioning of the retired Russian nuclear-powered naval fleet and associated spent nuclear fuel and radioactive waste management near the Barents Sea ports of Murmansk and Archangelsk. This will provide Fluor and British Nuclear Group a crucial strategic foothold in the clean-up of Russia's nuclear legacy, an emerging market that is expected to be worth billions of pounds.
The contract involves Fluor and British Nuclear Group working alongside Russian government organisation, Rosatom, as it develops the Russian Federation's programme for cleaning up the former Soviet navy's nuclear legacy. The combined capabilities of Fluor's project management and decommissioning experience and British Nuclear Group's technical clean-up expertise will assist Rosatom in building its own framework for tackling the significant and highly complex radiological challenges that exist in the northwest region of Russia.
Paul Hamer, Managing Director of British Nuclear Group Project Services, said: "Nuclear clean-up is a global challenge and is of growing importance. We are delighted to have this key partnership with Fluor that combines the best clean-up expertise and talent to help put in place frameworks that enable such challenges to be met as quickly and as safely as possible."
Patrick Flaherty, Managing Director of Fluor Ltd, said: "Fluor welcomes the opportunity to leverage its nuclear waste clean-up and project management expertise to help the Russian Government dispose of these aging materials and reclaim the affected areas. We feel very fortunate to be working so closely with a quality partner like British Nuclear Group and we both understand how important this project is to all of Europe."
Activities to establish this are funded by the Northern Dimension Environmental Partnership (NDEP) Support Fund, managed by the European Bank of Reconstruction and Development (EBRD) to tackle the environmental hazards in Russia's north-west and with contributions from Canada, Denmark, the European Commission, Finland, France, Germany, the Netherlands, Norway, Russia, Sweden and the United Kingdom and a donation of Belgium.
Fabrizio Saccomanni, Vice-President of the EBRD, declared: "We look forward to seeing that the cooperative effort between the leading Russian experts and Fluor Ltd/British Nuclear Group Team delivers a top class product on the shortest possible timeframe."
The initial scope of work will include: establishing a computer-based program management tool to help guide the implementation of a comprehensive strategic master plan and providing project management and decommissioning technical support to the Russian Federation's efforts to develop an integrated work programme for the decommissioning of nuclear submarines and service vessels, the management of spent nuclear fuel and radioactive waste, and the environmental rehabilitation of radioactively contaminated sites in northwest Russia.
Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Now headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $13.2 billion in 2005. For more information visit www.fluor.com.
Contact: Keith Stephens Fluor Corporation Media Relations 469.398.7624 tel /214.864.2105 mobile
Janet Kearns Fluor Ltd Media Relations (44) 19 32246120/ (44) 78 02373466
Ken Lockwood/Jason Landkamer Fluor Investor Relations 469.398.7220 / 469.398.7222 tel
Ben Todd (44) 19 25834431/ (44) 77 38039640 Dan Gould (44) 19 25834853/ (44) 77 38039639 British Nuclear Group Press Office