Fluor Corporation (NYSE: FLR) announced today that it has signed a Heads of Agreement to provide project management consulting services for a refinery complex in Tatarstan, Russia, for Tatneft, one of the largest companies in Russia's oil and gas sector. Fluor will also provide engineering, procurement and construction management services for selected scopes of work focused on the utilities, off-sites and infrastructure (UOI) for the complex. The definitive contract, which will establish the value of Fluor's scope and key project milestones, is scheduled to be finalized in late 2007 or early 2008.

"We are pleased that Tatneft has selected Fluor for this important project. This is a great opportunity to leverage our significant global refinery and petrochemical experience," said David Seaton, Fluor Energy & Chemicals group president.

When complete, the new complex is expected to have the capacity to refine up to 7 million metric tons of crude oil per year. Future phases of the facility will include a deep conversion refining plant with an annual throughput of 3.5 million tons and a petrochemical plant for the production of products derived from aromatic hydrocarbons, and are not part of Fluor's scope at this time.

Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $14.1 billion in 2006. For more information, visit www.fluor.com.