Foster Wheeler Signs Letter of Agreement With ENAP for a $300 Million Chilean Coker Project

abarrelfullabarrelfull wrote on 07 Dec 2012 21:30

Oct 29, 2001

Foster Wheeler Ltd. (NYSE:FWC) announced that one of its subsidiaries signed a letter of intent with Chilean state-run oil company, Empresa Nacional de Petroleo (ENAP), for the development of a delayed coker project on the site of an existing refinery.
The agreement to develop the project valued at $300 million, provides for Foster Wheeler to perform the basic engineering, followed by a second phase to include engineering, procurement and construction.

Companies who signed letters of interest with ENAP to participate in the development of the project include Perez Companc (Argentina), Petrobras (Brazil), Ferrostaal (Germany) and Alberta Energy (Canada).

The new coker will be built at the ENAP-owned Refineria de Petroleo de Concon facilities in Concon, Chile, and will process 20,000 barrels per day of heavy oil to produce petroleum coke. Foster Wheeler's scope of work will also include the building of a 44,000 barrels-per-day diesel and naphtha hydrotreating plant, and units for LPG treatment, amine regeneration, sour water stripping and other miscellaneous equipment.

Construction is scheduled to begin in 2002, with operations commencing in 2005.

In 1998, Foster Wheeler and ENAP completed the Petropower(SM) project in Talcahuano, Chile, on the site of the ENAP-owned Petrox refinery. The project combined a delayed coking facility with a cogeneration unit to generate steam and electric power needs for the Petrox refinery as well as providing power for the local electric grid.

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