Foster Wheeler Awarded Design Contract For New Refinery In Venezuela

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SOURCE Foster Wheeler | 20 September 2012

Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in consortium with Hyundai Engineering and Construction Co., Ltd. (HDEC), of South Korea, has been awarded a contract by Petróleos de Venezuela, S.A. (PDVSA) for Phase I (Hydroskimming section) of the new Batalla Santa Ines Refinery to be built in Barinas, Venezuela. Foster Wheeler's scope of work includes early detailed engineering design and the delivery of an open book estimate for the crude distillation unit, storage and blending unit and fuel distribution plant.

The terms of the contract were not disclosed. The booking was included in the company's second-quarter 2012 bookings. The main release of the detailed engineering design work is expected to be booked at a later date, upon release by the client.

"This award follows the 2011 award to Foster Wheeler of the process design and front-end engineering design services contract for the Batalla Santa Ines Refinery"

said Umberto della Sala, Chief Operating Officer of Foster Wheeler AG.

"Together with the award of the engineering, procurement and construction management services contract for PDVSA's El Palito Refinery expansion project, announced on July 19, 2012, this award reflects PDVSA's continued confidence in the strength of our refining technical expertise and the quality of our project execution."

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