Foster Wheeler Awarded Basic Design and EPCm Contract for Refinery Upgrade in Thailand

10/05/2011


ZUG, Switzerland, May 11, 2011 (BUSINESS WIRE) -- Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary in its Global Engineering and Construction Group has been awarded a contract by Thai Oil Public Company Limited for the basic design engineering package and engineering, procurement and construction management (EPCm) services for the Emission Improvement and PSA-3 project at Thai Oil's refinery at Sriracha in Thailand.

The terms of the award were not disclosed and the contract values were included in the company's first-quarter 2011 bookings.

The project's objectives are to give the refinery greater flexibility in the crudes it can process, specifically to enable the refinery to process higher sulfur crudes, to upgrade fuel oil to more valuable end products and to meet new sulfur oxides (SOx) emissions regulations coming into force in Thailand.

Residue production will be reduced through the application of deep cut vacuum technology, which helps mitigate the effects of heavier crude slates. In addition, new sour gas handling facilities will be installed, including a sulfur recovery unit and a tail gas treatment unit, and hydrogen production capacity will be expanded by installation of a new pressure swing adsorption unit. Foster Wheeler's scope also includes a significant element of revamp work.

The project is expected to be completed during the first quarter of 2013.

"Foster Wheeler has enjoyed a long track record of successful projects in Thailand, and specifically for Thai Oil at Sriracha," said Umberto della Sala, interim chief executive officer, Foster Wheeler AG. "We are very pleased to have won a further strong vote of confidence in our technical expertise and project execution capability with this latest award. We have put together a very capable and experienced team in our Sriracha operation, and this team is very focused on meeting Thai Oil's objectives for this important project."

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 12,000 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, mining 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 Geneva, Switzerland. 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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