Foster Wheeler Awarded Engineering Services Contract by Aibel for the Development Project 2013 in Norway

29/08/2011


ZUG, Switzerland--(BUSINESS WIRE)-- Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Aibel AS for the provision of detailed design engineering services to support Aibel, which has been appointed by Statoil as the main engineering, procurement and construction contractor for the Kårstø Development Project (KDP) 2013 for the Kårstø and Kollsnes oil and gas processing plants in Norway.

The Foster Wheeler contract value for this project was not disclosed. A small initial release of work was included in the company’s second-quarter bookings. The majority of Foster Wheeler’s work scope will be included in company’s third quarter 2011 bookings.

Foster Wheeler’s scope of work includes detailed design engineering services for modifications at the Kårstø plant to enable it to process light oil from the Gudrun offshore oil field and condensate from the Sleipner field. Foster Wheeler’s scope of work also covers the upgrading of eight compressors, three at Kårstø and five at Kollsnes. There are two additional scopes of work included as options under the KDP 2013 contract: a boiler upgrade project and hydrogen sulfide removal at Kårstø. This work has not yet been released and is dependent on Statoil choosing to exercise the options.

Statoil is acting on behalf of Gassco. Gassco is the operator for the Kårstø and Kollnes terminals, which are owned by the Gassled joint venture, with Statoil as the technical service provider.

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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Foster Wheeler AG
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Julie Stanisz, 908-730-4047
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