Foster Wheeler Awarded Feed Contract by Santos for GLNG(R) Upstream Project in Australia

22/07/2009


ZUG, Switzerland--(BUSINESS WIRE)--Jul. 23, 2009-- Foster Wheeler AG (Nasdaq: FWLT) announced that a subsidiary of its Global Engineering and Construction Group, has been awarded a contract by Santos Ltd. to undertake the front-end engineering design (FEED) for Santos’ GLNG® Upstream Project in Queensland, Australia.

The Foster Wheeler contract value for this project was not disclosed and will be included in the company’s second-quarter 2009 bookings.

Santos’ GLNG® Upstream Project involves the extraction of coal-seam gas from the Fairview, Roma and Arcadia fields in Central Queensland and the supply of coal-seam gas to a planned onshore LNG facility.

The FEED to be undertaken by Foster Wheeler is for the extraction, collection, compression and transportation of coal-seam gas to the transmission pipeline, and associated infrastructure and services, including power generation and water treatment facilities.

Foster Wheeler will perform the FEED, which is expected to be completed in the first quarter of 2010 from its Reading, UK, office and from Brisbane, Australia.

-The upstream and LNG sectors, both strategically important sectors for Foster Wheeler, are sectors in which we can demonstrate a long and successful track record and in-depth technical expertise. We will leverage these capabilities, together with our knowledge and experience of the Australian market and our strong working relationship with Santos, to deliver a high quality front-end design which meets our client’s objectives,” said Michael J. Beaumont, chairman and chief executive officer of Foster Wheeler Energy Limited.

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs over 14,000 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 are in Clinton, New Jersey, USA. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.

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Source: Foster Wheeler AG

Foster Wheeler AG
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Maureen Bingert, 908-730-4444
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Anne Chong, +44 (0)118 913 2106
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