US DoE Extends Savannah River Site Management and Operating Contract through July 2018

Fluor Corporation (NYSE:FLR) announced today that the U.S. Department of Energy (DOE) has exercised its option to extend the current management and operating contract at the Savannah River Site near Aiken, South Carolina, for an additional 22 months. The contract is currently being executed by Savannah River Nuclear Solutions, LLC (SRNS), a Fluor-led partnership, together with SN3 Stoller Newport News Nuclear and Honeywell. Fluor will book the undisclosed contract value in the third quarter of 2016.

SRNS was originally awarded the Savannah River maintenance and operating contract in January 2008 after an open and competitive bid process. By exercising the option to extend the term of the contract, DOE and SRNS will continue uninterrupted management and operation activities as outlined in the contract.

DOE’s Savannah River Site focuses on supporting and maintaining the nuclear weapons stockpile as well as processing and storing nuclear materials in support of U.S. nuclear non-proliferation efforts. Work performed at the site includes environmental management and the cleanup of legacy materials, facilities and wastes left over from the Cold War. The Savannah River National Laboratory, a federally-funded research and development center, is also located at the site.

“We are pleased that the Department of Energy has confidence in our performance and ability to deliver on the important work that is under way at the site,” said Bruce Stanski , president of Fluor’s Government Group. “As always, Fluor succeeds in the nuclear space through its continued focus on safety and security by modeling excellence and delivering results across all elements of the SRNS organization. It is also a validation of our employees' good work to make the world safer and the assurance that DOE has in our ability to successfully accomplish the project’s mission.”

For more than 70 years, Fluor has served as a DOE contractor with a legacy that dates back to the Manhattan Project. In addition to the Savannah River site work, Fluor supports DOE’s cleanup missions at the Idaho Site under the Idaho Cleanup Project Core Contract and is the prime contractor for deactivating the Paducah Gaseous Diffusion Plant in Kentucky, as well as for the decontamination and decommissioning of the Portsmouth Gaseous Diffusion Plant in Piketon, Ohio. Fluor also manages and operates the Strategic Petroleum Reserve, headquartered in New Orleans for DOE’s Office of Fossil Energy.