Fluor Corporation (NYSE: FLR) has acknowledged the recent ruling by the Supreme Court of Queensland in favor of Santos regarding the long-standing dispute over the Gladstone LNG project in Queensland, Australia. While the court’s final judgment is not anticipated until later this year, the latest decision largely accepted the recommendations of a referee panel appointed by the court, despite Fluor’s objections.
The dispute dates back to 2016, centering on Santos’ attempts to recover costs from a reimbursable project completed by Fluor in 2015.
Fluor emphasized that the contracting principles addressed in the case have far-reaching implications for the engineering and construction industry. The company noted that additional hearings and submissions from both parties will take place before the final ruling is delivered.
In its statement, Fluor confirmed that it is carefully reviewing the decision and evaluating its potential responses, including the timing of a possible appeal. The company also stated it is working with insurance carriers to address obligations that may arise once the final judgment is issued.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global leader in engineering, procurement, construction and maintenance services. Headquartered in Irving, Texas, the company has nearly 27,000 employees worldwide and reported revenues of $16.3 billion in 2024. Ranked 257 on the Fortune 500 list, Fluor has delivered capital-efficient and technically advanced projects for more than a century.
