Fluor in alliance with Chinese oil firm

AP News
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Posted: Nov 19, 2009 6:38 PM

Fluor Corp. said Thursday it has formed a partnership with a subsidiary of state-owned China National Offshore Oil Co. to pursue offshore oil and gas projects in the Asia-Pacific region.

Fluor, an engineering and construction firm, said the deal extends a 10-year-old relationship with the company, Offshore Oil Engineering Corp. Ltd.

Financial terms were not disclosed.

Fluor shares fell $1.42, or 3.1 percent, to close at $43.96 on Thursday.