Foster Wheeler Awarded Design Contract for a New Refinery in Venezuela

abarrelfull wrote on 07 Jul 2011 08:41
Tags: foster-wheeler pdvsa refinery venezuela

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Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a process design and front-end engineering design (FEED) services contract by PDVSA for the new Batalla Santa Ines Refinery Phase I Hydroskimming section to be built in Barinas, Venezuela.

The terms of the contract were not disclosed. An initial release of work was included in the company's first-quarter 2011 bookings. The majority of the contract value will be included in the company's second-quarter 2011 bookings.

Foster Wheeler's scope of work includes the preparation of the basic engineering design package, FEED and early procurement assistance for the crude distillation unit, the naphtha hydrotreater, the continuous catalytic reformer and the utilities and offsite facilities. The FEED is scheduled to be completed in the third quarter of 2011.

"Foster Wheeler is very pleased to have been selected for this important project, which is another step in its successful working relationship with PDVSA and follows the award for the major expansion of the El Palito Refinery in Venezuela," said Umberto della Sala, Interim Chief Executive Officer of Foster Wheeler AG. "This award reflects our in-depth refinery expertise and our strong position in the important South American market."

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 12,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company's Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, mining and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company's Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at http://www.fwc.com.

• Foster Wheeler Awarded Design Contract for a New Refinery in Venezuela

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