Foster Wheeler Awarded FEED Contract for Khurais Arabian Light Crude Increment Program in Saudi Arabia

Business Wire

ZUG, Switzerland--(BUSINESS WIRE)--

Foster Wheeler AG (FWLT) announced today that subsidiaries of its Global Engineering and Construction Group have been awarded contracts for the front-end engineering design (FEED) for Saudi Aramco’s Khurais Arabian Light Crude Increment Program in Saudi Arabia.

The Foster Wheeler contract value was not disclosed and was included in the company’s second-quarter 2013 bookings.

The objective of the Khurais Increment Program is to increase production capacity at the Khurais Central Processing Facilities (CPF) by 300,000 barrels of oil per calendar day (BPCD) from its current capacity of 1,200,000 BPCD, as well as to enhance production from the Mazalij and Abu Jifan fields by installation of a satellite Gas Oil Separation Plant (GOSP). Foster Wheeler will be responsible for the FEED, equipment and material specifications, development of a cost estimate, and procurement assistance for long-lead items. The FEED is expected to be completed during the second quarter of 2014.

Foster Wheeler executed the original Khurais CPF FEED in 2005/2006, and was subsequently awarded an engineering, procurement and construction contract, with a joint venture partner, for the gas plant, a key part of the CPF.

“Foster Wheeler has enjoyed a very successful long-term relationship with Saudi Aramco, and we are delighted to continue to play a role in Saudi Aramco’s strategic investments,” said Umberto della Sala, President and Chief Operating Officer of Foster Wheeler AG. “This award reflects the confidence of Saudi Aramco in our FEED capability and project execution expertise, proven on previous major Saudi Aramco oil and gas developments, including Haradh, Qatif, Manifa, Karan and the original Khurais developments.”

Foster Wheeler AG is a global engineering and construction company 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, minerals 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 Reading, United Kingdom. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.

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Contact:
Media:
Foster Wheeler AG
United States
Patti Landsperger, +1-908-713-2944
patti_landsperger@fwc.com
or
UK
Anne Chong, +44-118-913-2106
anne_chong@fwuk.fwc.com
or
Investor Relations
Scott Lamb, +1-908-730-4155
scott_lamb@fwc.com
or
Other Inquiries
+1-908-730-4000
fw@fwc.com

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