Foster Wheeler Wins Pre-FEED and FEED for Perla Early Production Facilities in the Gulf of Venezuela

Foster Wheeler AG,announced today that its Global Engineering and Construction Group has been awarded a pre-front-end engineering design (pre-FEED) and front-end engineering design (FEED) contract by Cardon IV, S.A., for new production facilities at the Perla field, located in the Gulf of Venezuela, Caribbean Sea.

Cardon IV S.A. is a joint venture company owned by Eni Venezuela B.V and Repsol YPF Venezuela Gas, S.A. for developing non-associated natural gas exploration and exploitation activities in Cardon IV area, in the Bolivarian Republic of Venezuela.

The value of the contract was not disclosed. The award will be included in the company’s third-quarter 2010 bookings.

The new production facilities comprise offshore structures, trees, controls, offshore processing, subsea flowlines, export pipelines, the shore approach and utilities facilities from the wellheads to an onshore gas plant, and tie-in to an existing gas and condensate pipeline system.

“We are delighted that Cardon IV has selected Foster Wheeler Upstream’s Houston-based team for this project and we look forward to delivering a high quality service which fully satisfies our client. Upstream remains a top growth priority for Foster Wheeler, and the award of this project confirms our strategy and commitment to the upstream oil and gas market sector,” said Clive Vaughan, chief executive officer, Foster Wheeler Upstream.

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 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, 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.

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Source:Foster Wheeler , October 12, 2010;

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