Foster Wheeler Receives Delayed Coker Award from Indian Oil Corporation Limited

abarrelfullabarrelfull wrote on 05 Apr 2012 09:01
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March 13, 2007

Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that its subsidiary Foster Wheeler USA Corporation, part of its Global Engineering and Construction Group, has been awarded a contract by Indian Oil Corporation Limited (IOCL) to provide a license and basic engineering package for a new delayed coker. The 3.7 million tonnes per annum delayed coker, which will be based on Foster Wheeler's Selective Yield Delayed Coking (SYDEC(SM)) process, forms part of IOCL's residue upgrading project at its Gujarat refinery in India.

The terms of the award, which will be included in the company's first-quarter 2007 bookings, were not disclosed.

"We are extremely pleased that IOCL has selected our leading SYDEC(SM) technology," said Troy Roder, president and chief executive officer of Foster Wheeler USA Corporation. "India is a key strategic market for Foster Wheeler and we look forward to working with IOCL on this important upgrading project."

Foster Wheeler's SYDEC(SM) process is a thermal conversion process used by refiners worldwide to upgrade heavy residue feed and process it into high value transport fuels. The SYDEC(SM) process achieves maximum clean liquid yields and minimum fuel coke yields from high sulfur residues. By installing a SYDEC(SM) unit, a refinery owner is able to process heavier crudes, which sell at a discount to the benchmark light, sweet crudes, thereby allowing the owner to receive the benefit of increased refining margins. Foster Wheeler is a market leader in delayed coking and has supplied its delayed coking process technology worldwide for over 80 new delayed cokers and has worked on more than 70 delayed coker revamps.


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