Foster Wheeler Wins Engineering and Procurement Services Contract for Gasscos Dunkerque Terminal

28/07/2010


ZUG, SWITZERLAND, July 29, 2010 -- Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has been awarded an engineering and procurement services contract by Gassco AS for the implementation of the blow-down system modification at the Gassco-operated Dunkerque Terminal, France. A blow-down system is used to safely depressurize the process areas of a gas terminal in the event of an emergency.

The Foster Wheeler contract value for this project was not disclosed and will be included in the company’s second-quarter 2010 bookings.

This project will be executed by Foster Wheeler’s Teesside operation at Middlesbrough in the UK. Foster Wheeler’s specialist Upstream Oil & Gas Division in Reading, UK, completed a feasibility study in 2008 to optimize the blow-down system to meet venting time recommendations for the terminal at Dunkerque. The study was followed by concept development and initial engineering by Foster Wheeler prior to project sanction. Completion of Foster Wheeler’s scope of work is expected during the first half of 2011.

Foster Wheeler’s Teesside operation is also currently executing the contract for the implementation of the blow-down system modification at Gassco’s Zeebrugge Terminal in Belgium, having completed the concept development and initial engineering.

-I am very pleased that we were able to apply our in-depth knowledge of dynamic simulation, process control and venting system design during the development phase of the project to help Gassco develop a robust basis upon which to make the final investment decision. This latest award by Gassco is a strong vote of confidence in our project execution expertise and offers further opportunities for us to build upon our already close working relationship with Gassco,” said Umberto della Sala, president and chief operating officer, Foster Wheeler AG.

Gassco, a Norwegian state-owned company, is responsible for the transportation of all gas from the Norwegian Continental Shelf to Europe through its Zeebrugge and Dunkerque terminals. These terminals remove residual liquids and solids from the gas, regulate its pressure and temperature, and meter volume and quality before onward transmission to downstream users.

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 www.fwc.com.

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Foster Wheeler AG
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