Foster Wheeler Selected to Manage EPC Phase of GASCO's Habshan Gas Complex Expansion in the UAE

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Jan. 17, 2006

Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that one of its subsidiaries has been awarded a contract by Abu Dhabi Gas Industries Ltd. (GASCO) to provide management services for the engineering, procurement and construction (EPC) phase of GASCO's Habshan Gas Complex Expansion (HGCE) Project at Habshan, Abu Dhabi, UAE. GASCO, a subsidiary of Abu Dhabi National Oil Company, is one of the largest gas processing companies in the world. The management services will be undertaken by Foster Wheeler Energy Limited in the UK, previously awarded the contract to provide management services for the front-end engineering design and EPC contractor selection phases of this project.

The Foster Wheeler contract value was not disclosed and the project will be included in the company's fourth-quarter 2005 bookings.

The HGCE Project is a $1 billion expansion of the existing Habshan Gas Complex, one of the world's largest gas processing plants. This expansion project will allow the processing of incremental associated gas resulting from ADNOC's expansion of its crude oil production from 1.2 to 1.4 million barrels per day. Associated gas is found in association with crude oil, as distinct from non-associated gas, which is produced from reservoirs that do not contain significant quantities of crude oil.

"We are very pleased that GASCO has demonstrated its continued confidence by selecting Foster Wheeler to manage the EPC phase of this significant expansion at Habshan," said Steve Davies, chairman and chief executive officer of Foster Wheeler Energy Limited. "This award builds on our well-established and very successful relationship with GASCO and follows on our success in providing similar services for GASCO's Onshore Gas Development III and Ruwais 3rd Train projects, which are both world-scale developments."

"The HGCE Project is a strategic investment which will be instrumental in delivering GASCO's vision: continuously to generate value through world-class management of our gas plant and distribution network within the hydrocarbon value chain," said Khaled Ghanem, senior project manager, GASCO. "We have established an excellent working relationship with Foster Wheeler and we perform as one integrated project management team, committed to satisfying GASCO's expectations for the successful implementation of the project, meeting our company's ambitious health, safety and environmental quality requirements and achieving a smooth, 'right first time' start-up."

The HGCE project is planned for completion in mid 2008 and includes the following:

  • Two new 800 tonnes per day SUPERCLAUS(R) sulfur recovery units;
  • A new acid gas enrichment unit;
  • New low pressure, high pressure and feed gas compressors plus associated pipelines;
  • Associated offsites and utilities; and
  • Upgrade of existing distributed control systems.

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