Foster Wheeler Awarded Project Management Consultancy Contract For Major Refinery Upgrade In Morocco

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September 20, 2005

Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that its Italian subsidiary Foster Wheeler Italiana S.p.A. has been awarded a project management consultancy contract by Société Anonyme Marocaine de l'Industrie de Raffinage (SAMIR) for a major upgrade and expansion of its Mohammédia Refinery, located near Casablanca, Morocco. Foster Wheeler's contract value was not disclosed and the project will be included in the Company's third-quarter bookings.

SAMIR's upgrading program, which has a total investment cost of approximately $650 million, aims to increase refinery capacity, maximize gasoil production and improve product quality specifications to meet the distillate requirements of the Moroccan market by 2010.

“We are very pleased to be awarded this challenging contract,” said Umberto della Sala, chief executive officer of Foster Wheeler's Global Engineering & Construction Group. “This represents a real team effort. Our UK-headquartered operation carried out the feasibility study, the front-end design and prepared the invitation to tender documents for the engineering, procurement and construction (EPC) phase. Now, our Milan-headquartered Italian operation will manage the EPC contractor, who is also based in Milan. Being entrusted by SAMIR to act as their project management consultant in such a big project is indeed an acknowledgement of our expertise in this field and we will spare no effort in helping our client to bring this important project to successful completion.”

The total refinery throughput will be 6.25 million tons/year, equivalent to about 121,000 barrels/day. The upgrading and expansion program includes new conversion and auxiliary units: a vacuum distillation unit, a hydrocracker, a distillate hydrotreater, a sulfur recovery unit and a hydrogen plant. The refinery enhancement is expected to be completed by June 2008.

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