Fluor Lands $1.5B Contract To Run Petroleum Reserve

Law360, New York (September 19, 2013, 1:42 PM EDT) -- A subsidiary of Fluor Federal Services Inc. has won a $1.5 billion contract to manage and operate the government's Strategic Petroleum Reserve, Fluor announced Thursday.

Fluor Federal Petroleum Operations LLC will receive $697 million for five years of management. After five years, the U.S. Department of Energy has the option to extend the contract for another five years.

Virginia-based Fluor will lead a team that also includes MRIGlobal of Missouri, Booz Allen Hamilton of Virginia and ASRC Petroleum Operations and Maintenance of Alaska.

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