Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Statoil Petroleum AS to perform a study for the Snøhvit Improvement Project 2 at Melkøya, 450 kilometers north of the Arctic Circle in Norway.
The Foster Wheeler contract value was not disclosed and will be included in the company’s fourth-quarter 2013 bookings.
Foster Wheeler will define long-term solutions to achieve the Snøhvit partnership’s objectives of increasing the operating performance of the LNG facility and increasing the capacity and feed gas flexibility of the plant. This concept study is scheduled for completion in the third quarter of 2014.
“We have been working with Statoil and its Snøhvit partners for more than five years,” said Roberto Penno, Chief Executive Officer of Foster Wheeler Global E&C Group. “We are pleased to have this opportunity to continue to add value for our client through the application of our LNG expertise and our brownfield experience to develop innovative technical and project execution approaches.”
Foster Wheeler AG is a global engineering and construction company 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, minerals and metals, environmental, pharmaceuticals, biotechnology and healthcare industries.
The company’s Global Power Groupis 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 Reading, United Kingdom.
