Foster Wheeler Awarded Project Management Support Contract for Gas Storage Project in Wyoming

22/11/2011


ZUG, Switzerland--(BUSINESS WIRE)--Nov. 23, 2011-- Foster Wheeler AG (Nasdaq: FWLT) announced today that Foster Wheeler Upstream, part of its Global Engineering and Construction Group, has been awarded a contract by Ryckman Creek Resources, LLC, a subsidiary of Peregrine Midstream Partners, LLC, for project management support for the 35 billion-cubic-foot Ryckman Creek natural gas capacity storage facility. The new gas storage facility will serve the natural gas markets at the Opal Hub in Wyoming.

The contract value, which was not disclosed, will be included in the company’s third-quarter 2011 bookings. Foster Wheeler Upstream's work on the contract is expected to continue through the third quarter of 2012.

-We are excited that Ryckman Creek Resources, LLC selected Foster Wheeler for this project and we look forward to helping our client achieve a successful project start-up,” said Clive Vaughan, Chief Executive Officer, Foster Wheeler Upstream. -This project expands upon our robust gas storage experience, including the recent projects in Matagorda County, Texas, Evangeline Parish, Louisiana and in Europe.”

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 http://www.fwc.com.

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Source: Foster Wheeler AG

Foster Wheeler AG
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Julie Stanisz, 908-730-4047
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