Fluor Daniel Awarded Contract for Egyptian-Israeli Oil Project

Fluor Corp. said its Fluor Daniel unit has received a contract from an Egyptian-Israeli joint venture company to provide preliminary engineering services for an oil refinery in Alexandria, Egypt.

Terms were not disclosed. The joint venture company is called Midor. It is a private company, owned 80% by a group of Egyptian businessmen and the Merhav Israeli Group of Companies. The Egyptian General Petroleum Corp. owns the remaining 20%.

The refinery is scheduled to be completed in 1998 and will be capable of processing 100,000 barrels of oil per day for sale in Egypt and the eastern Mediterranean.

The project is the first major private cooperative venture between Israel and Egypt.