Foster Wheeler JV Signs Three-Year EPCm Framework Services Agreement with Qatargas

14/11/2011


ZUG, Switzerland--(BUSINESS WIRE)--Nov. 15, 2011-- Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction (E&C) Group and the subsidiary’s joint venture partner, Qatar Kentz WLL, have signed an engineering, procurement and construction management (EPCm) framework agreement with Qatargas Operating Company Limited (Qatargas).

The framework agreement covers projects associated with the existing Qatargas LNG facility at Ras Laffan Industrial City and will include both onshore and offshore work. The agreement will be for three years with an option to extend for a further two years. The booking values for the projects will be recorded as individual service orders are received.

Qatargas plans to issue invitations to its framework contractors to bid for specific packages of work, which packages may include pre-front end engineering design (pre-FEED), FEED and EPCm services.

-Our joint venture’s combined strengths, Foster Wheeler’s upstream and LNG expertise, and project execution track record, and Qatar Kentz’ local presence, position us very strongly to deliver a full range of high, quality services for Qatargas at its Ras Laffan LNG facility,” said Umberto della Sala, Chief Operating Officer, Foster Wheeler AG. -This is a further example of our focus on delivering a complete, local service to our clients, which objective is a key element of our Global E&C Group’s Strategic Renewal Initiative.”

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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