Foster Wheeler (FWLT) Unit Awarded PDVSA for Phase I of Batalla Santa Ines Refinery

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Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in consortium with Hyundai Engineering and Construction Co., Ltd. (HDEC), of South Korea, has been awarded a contract by Petróleos de Venezuela, S.A. (PDVSA) for Phase I (Hydroskimming section) of the new Batalla Santa Ines Refinery to be built in Barinas, Venezuela. Foster Wheeler’s scope of work includes early detailed engineering design and the delivery of an open book estimate for the crude distillation unit, storage and blending unit and fuel distribution plant.

The terms of the contract were not disclosed. The booking was included in the company’s second-quarter 2012 bookings. The main release of the detailed engineering design work is expected to be booked at a later date, upon release by the client.

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