Foster Wheeler Awarded FEED Contract by Cepsa for New Refinery Units in Spain

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November 7, 2006

Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that its Spanish subsidiary, Foster Wheeler Iberia, S.A., part of its Global Engineering and Construction Group, has been awarded a lump-sum contract by Compañía Española de Petróleos, S.A. (CEPSA), one of the main Spanish refining companies, for the front-end engineering design (FEED) and early procurement services for new crude, vacuum and gas concentration units at La Rábida Refinery at Huelva, in Spain.

The Foster Wheeler contract value was not disclosed. The project will be included in the company's third-quarter 2006 bookings.

“We are delighted to continue our cooperation with CEPSA that started more than 35 years ago and to bring to our client our in-depth refining knowledge and experience,” commented Jesús Cadenas, managing director of Foster Wheeler Iberia, S.A.

The design for the new units will be based on a UOP basic design package. The crude distillation unit will have a capacity of 90,000 barrels per stream day (BPSD), the vacuum distillation unit capacity will be 30,500 barrels BPSD and the capacity of the gas concentration unit will be approximately 148 tons per hour.


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