Foster Wheeler Awarded Contract for Floating LNG Receiving Terminal in Indonesia

abarrelfullabarrelfull wrote on 02 Nov 2010 14:17
Tags: contract foster-wheeler indonesia lng


Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has been awarded a contract by Perusahaan Gas Negara (PGN) a leading state owned enterprise and public listed company in natural gas business in Indonesia for the provision of project management consultancy (PMC) services for a new floating LNG receiving terminal (the "Medan Floating LNG Terminal" facility) to be built in Medan, North Sumatra, Indonesia.

The Foster Wheeler contract value for this project was not disclosed. The contract will be included in the company's third quarter 2010 bookings.

Foster Wheeler's scope of work includes technical assistance through the initial phase of the development of the project, conceptual design of the terminal, basic design of the subsea and onshore pipeline as well as the preparation and issue of an invitation to bid for engineering, procurement and construction (EPC), EPC bid evaluations, preparation of the EPC contract and support to PGN in EPC contract negotiation. Foster Wheeler will fulfil the role of owner's engineer during the EPC phase of the project through to start-up of the terminal.

"This award constitutes a strong vote of confidence in our project management and technical skills in floating LNG terminals and pipelines," said Umberto della Sala, President and Chief Operating Officer of Foster Wheeler AG.

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 13,000 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, 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.


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