Foster Wheeler Selected for Initial Feed by Rosneft and ExxonMobil for Proposed LNG Project in Russian Far East

November 12, 2013

Foster Wheeler AG (Nasdaq:FWLT) announced that a subsidiary of its Global Engineering and Construction Group has been selected by Rosneft and ExxonMobil to undertake the initial phase of the front-end engineering design (FEED) for a proposed Russian Far East liquefied natural gas (LNG) project. Foster Wheeler is one of two companies to be awarded separate contracts for the initial FEED work prior to selection of a single contractor for the second FEED phase.

The Foster Wheeler contract value was not disclosed and will be included in the company’s fourth-quarter 2013 bookings.

Foster Wheeler will undertake preliminary engineering and execution planning for the LNG plant and associated gas pipelines, infrastructure and marine facilities. The work will include location and concept studies, design basis definition, main technical solutions development, constructability assessment, definition of project execution strategies and preparation of preliminary information for submission to the Russian authorities.

Copyright 2013. Foster Wheeler