Foster Wheeler Wins New Hydrotreater Unit in Lithuania for AB Mazeikiu Nafta

abarrelfullabarrelfull wrote on 10 Dec 2012 12:24

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Feb. 22, 2005

Foster Wheeler Ltd. (OTCBB: FWHLF) is pleased to announce that its subsidiary Foster Wheeler Iberia, S.A. has been awarded a contract for the supply and construction of a new fluid catalytic cracker gasoline selective hydrotreater unit (Axens license) at AB Mazeikiu Nafta's Mazeikiai Refinery in northwest Lithuania. The contract value is approximately $43 million and the project will be included in Foster Wheeler's fourth-quarter 2004 bookings.

"This contract represents another important milestone in our penetration of the Eastern European and Russian markets," commented Jesus Cadenas, managing director, Foster Wheeler Iberia, S.A. "We have already executed successful projects in Hungary, Bulgaria, Russia, and Belarus. Our track record demonstrates that we can manage the challenges presented by this project: extreme climatic conditions, adaptation to the country's practices and its language, and the tight project execution period."

Foster Wheeler will be responsible for detailed engineering, equipment and material supply, and construction, up to mechanical completion, which is scheduled for the fourth quarter of 2006.

The new facility comprises two units: a 32,000 barrels per stream day (BPSD) sulfur hydrogenation unit and a 22,000 BPSD hydrodesulfurization unit. This is a strategic project for the refinery, the only refinery in the Baltic States, and will enable it to meet the European Union's Auto-Oils V specifications for the sulfur content of gasoline which come into force in 2009.

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