(WO) – Fluor Corp. has signed a memorandum of understanding (MoU) with Inelectra, a Venezuelan engineering, procurement and construction management company, to support current and future clients in Venezuela’s energy, petrochemical and industrial sectors. The partnership will combine Fluor’s global engineering, procurement, construction and project management capabilities with Inelectra’s nearly 60 years of local market experience.
“To support the increasing investment by international energy companies in Venezuela, we intend to create a locally anchored platform capable of delivering world-class project execution while maintaining the highest standards of quality and safety,” said Pierre Bechelany, president of Fluor’s Energy Solutions business group.
Fluor has completed more than 40 capital projects in Venezuela since 1982 across the upstream, downstream, petrochemical and power sectors. That includes the Hamaca crude upgrader at the Jose Industrial Complex, built by a Fluor-Inelectra joint venture and completed in 2004, which was designed to process up to 190,000 bpd of extra-heavy crude.
Inelectra, which describes itself as Venezuela’s largest engineering and construction firm, has offices in Caracas, Puerto La Cruz and Maracaibo.
The agreement adds to a wave of renewed foreign activity in Venezuela’s oil sector. That includes GeoPark’s entry into the Bare Block and Nabors’ plan to return a rig to the country.
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