Foster Wheeler Awarded Project Management Contract By Eni/Repsol JV For Perla Offshore Field Development In Gulf Of Venezuela

abarrelfullabarrelfull wrote on 10 Feb 2014 12:20
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Aug. 1, 2013

Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a project management contract by Cardon IV S.A., for new production facilities for the Perla Field in the Gulf of Venezuela. Cardon IV S.A. is a joint venture company owned by Eni Venezuela B.V and Repsol YPF Venezuela Gas, S.A.

The value of the contract was not disclosed. The award will be included in the company's second-quarter 2013 bookings.

The new production facilities will be comprised of offshore structures, trees, controls, offshore processing, subsea flowlines, export pipelines, the shore approach and utilities facilities from the wellheads to an onshore gas plant, and tie-in to an existing gas and condensate pipeline system. First gas is planned at the end of 2014.

Foster Wheeler will supervise the engineering, procurement and construction contractors and the procurement of long-lead equipment. The company’s scope of work requires supervision activities to be carried out in engineering centers in Houston, Madrid, London, and Rijeka, Croatia, and in more than 15 countries for fabrication and construction of equipment and materials at module and jacket fabrication yards and for site installation.

“We are delighted that Cardon IV has selected Upstream's Houston-based team for this project, and we look forward to continuing to deliver a high-quality service which fully satisfies our client,” said Hal Ankrum, Chief Executive Officer, Foster Wheeler Upstream. “We have built a strong working relationship with Cardon IV since we started work on the conceptual engineering in 2010, and then completed the front-end engineering design. During these three years we have provided the client with high-quality people and deliverables, and this latest award reflects Cardon IV’s continuing confidence in our Upstream team.”


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