ZUG, Switzerland--(BUSINESS WIRE)--Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has received a contract from Zakum Development Company (ZADCO), to perform an availability and reliability study in connection with the expansion of the Zirku oil processing facilities in Abu Dhabi, UAE.
The Foster Wheeler contract value for this project was not disclosed and was included in the company’s fourth-quarter 2010 bookings.
The Upper Zakum facilities at Zirku Island comprise three oil processing trains and one train on stand-by. ZADCO plans to increase the capacity of this facility to cater for an increased production profile over the next twenty years. Foster Wheeler will conduct site surveys, identify a range of potential expansion options and debottlenecking initiatives, and perform availability and reliability studies to derive a master plan for the facilities. From the various options presented, one option will be selected for which Foster Wheeler will prepare the basis of design and the scope of work for the next phase of the project.
“Foster Wheeler will combine its extensive technical and project execution expertise in upstream and in plant assessment, reliability, availability and maintenance to develop and evaluate a range of cost-effective solutions to help ZADCO realize its production capacity requirements over the next twenty years,” said Umberto della Sala, interim chief executive officer, Foster Wheeler AG.
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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