Foster Wheeler Awarded Refinery Upgrade and Modernization Contract for SONARA, Cameroon

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Jun 01, 2010

Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group, has been awarded an engineering, procurement, and construction management (EPCm) services contract by Société Nationale de Raffinage (SONARA) for Phase 1 of the Limbé Refinery upgrade and modernization project in Cameroon.

The terms of the award were not disclosed and the contract will be included in Foster Wheeler's second-quarter bookings for 2010.

Foster Wheeler has already completed the front-end engineering design for the entire project. Phase 1 includes the revamp of the existing crude distillation unit, addition of a new vacuum distillation unit, new catalytic reformer unit, and power generation and associated offsites and utilities facilities.

"This project is of significant strategic importance for Cameroon, allowing the Limbé Refinery to process local crude and condensate while increasing processing capacity and improving overall refinery utilization," said Umberto della Sala, president and chief operating officer, Foster Wheeler AG. "It will also enable SONARA to market more value-added products such as kerosene and diesel once the overall project is completed. SONARA is a very important client with whom we have established a strong relationship as part of our strategy to develop more business in Africa."

"We have selected Foster Wheeler because of their ability to provide qualified and professional services, as already demonstrated to us in the past, and their recognized strengths in the design and execution of large, technically complex projects in challenging environments," said Charles Metouck, general director of SONARA.

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