Foster Wheeler Awarded Contract by Saras for Refinery Revamp in Italy

abarrelfullabarrelfull wrote on 18 Dec 2012 12:20
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March 19, 2008

Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that Milan-based Foster Wheeler Italiana S.p.A., part of its Global Engineering and Construction Group, has been awarded an engineering, procurement, and construction management contract by Saras S.p.A. for the revamp of the mild hydrocracking unit at the Sarroch refinery in Sardinia, Italy. This project is part of an important refinery upgrade.

The terms of the contract, which will be included in Foster Wheeler's first-quarter 2008 bookings, were not disclosed.

This award follows the successful completion by Foster Wheeler of the front-end engineering design for the mild hydrocracker revamp and the procurement of major items. The revamp's objectives are the upgrade of the mild hydrocracker's capacity, performance and conversion, while achieving a longer catalyst life duration. The revamp includes major modification to the reaction section, including installation of a new pretreat reactor, as well as upgrading the gas compression circuit and installing a new high-pressure amine wash section.

"We are very pleased to be awarded this revamp project by Saras," said Marco Moresco, chief executive officer, Foster Wheeler Italiana S.p.A. "We have been working with Saras for a number of years at this refinery. We have an alliance-type frame agreement with Saras under which we undertake work at this refinery and, under this agreement, we have developed a strong, successful and cooperative working relationship with our client."

"The upgrading of our refinery at Sarroch, one of Europe's largest and most complex refineries, is proceeding at a fast pace," said Dario Scaffardi, general manager, Saras S.p.A. "This latest award to Foster Wheeler demonstrates our continued satisfaction with its professionalism and expertise and our confidence in its ability to maintain a successful relationship with Saras."


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