Aliso Viejo-based Fluor Corp. said Tuesday it settled all outstanding disputes with an owners’ group on the Hamaca oil project in Venezuela.
The settlement, which ended arbitration proceedings, reimburses Fluor for costs arising from disputed changes on the project and for Fluor’s funding of those changes.
Fluor said it will see about $30 million in pre-tax earnings in the current quarter. All project related costs previously deferred will be eliminated from Fluor’s balance sheet in the third quarter, the company said.
