Foster Wheeler Awarded Contract for Floating LNG Receiving Terminal in Indonesia

Foster Wheeler AG announced today that its Global Engineering and Construction Group has been awarded a contract by Perusahaan Gas Negara (PGN) a leading state owned enterprise and public listed company in natural gas business in Indonesia for the provision of project management consultancy (PMC) services for a new floating LNG receiving terminal (the “Medan Floating LNG Terminal” facility) to be built in Medan, North Sumatra, Indonesia. The Foster Wheeler contract value for this project was not disclosed.

The contract will be included in the company’s third quarter 2010 bookings. Foster Wheeler’s scope of work includes technical assistance through the initial phase of the development of the project, conceptual design of the terminal, basic design of the subsea and onshore pipeline as well as the preparation and issue of an invitation to bid for engineering, procurement and construction (EPC), EPC bid evaluations, preparation of the EPC contract and support to PGN in EPC contract negotiation.

Foster Wheeler will fulfil the role of owner’s engineer during the EPC phase of the project through to start-up of the terminal. “This award constitutes a strong vote of confidence in our project management and technical skills in floating LNG terminals and pipelines,” said Umberto della Sala, Chief Executive Officer of Foster Wheeler AG.

[mappress]

Source: Foster Wheeler AG, November 2, 2010