Foster Wheeler Awarded Front-End Engineering Design Contract by Gazpromneft for a Refinery Upgrade in Russia
Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of
its Global Engineering and Construction Group has been awarded a
contract by OJSC Gazpromneft Moscow Refinery to provide front-end
engineering design (FEED) and design documentation in accordance with
Russian norms, for a major investment, termed the Combined Oil Refinery
Unit (CORU) Project, at the Moscow Refinery.
The value of the award was not disclosed and will be included in Foster
Wheeler’s first-quarter 2013 bookings.
The CORU project is part of the implementation of Gazpromneft’s OJSC
Moscow Refinery Revamping and Upgrading Program, under which the
refinery will be expanded up to 2020 to process an additional six
million tons of crude oil per year and produce transportation fuels to
Euro-V standards.
The CORU facilities are planned to include crude distillation and vacuum
distillation units (CDU & VDU), a continuous catalytic reforming unit
with naphtha hydrotreatment and hydrogen recovery by pressure swing
adsorption, a diesel hydrotreater including a dewaxing section, a gas
plant with a liquefied petroleum gases sweetening unit and common
utilities. The FEED activities are expected to be completed in the
fourth quarter of 2013 while the submission of design documentation is
scheduled for the first quarter of 2014.
Foster Wheeler was previously awarded the process design package for the
facilities’ crude and vacuum distillation units and the gas plant.
“Developing long-term relationships with our clients based on project
execution excellence and expanding our served markets in Russia are two
of our strategic objectives,” said Umberto della Sala, President and
Chief Operating Officer, Foster Wheeler AG. “We plan to leverage our
experience in Russia, our in-depth refining experience and our
reputation for developing high quality FEEDs to deliver a strong
performance for Gazpromneft to form the basis for a longer-term working
relationship.”
“The CORU Project is the most important investment for our Moscow
Refinery. Timely completion and plant start-up are vital for our
company, but completion of a strong FEED is a very important first step
in the realization of this key project,” said Anatoli Moiceevich
Cherner, Deputy Chairman of the Board, Gazpromneft.
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, 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 Reading, United Kingdom. For
more information about Foster Wheeler, please visit our Web site at www.fwc.com.
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