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Foster Wheeler Awarded PMC Contract for ADCO's Bida Al Qemzan Oilfield Development in UAE

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Foster Wheeler AG announced today that its Global Engineering and Construction Group has been awarded a contract by Abu Dhabi Company for Onshore Oil Operations (ADCO) for the provision of project management consultancy (PMC) services for the development of the Bida Al Qemzan oilfield in the United Arab Emirates.

The Foster Wheeler contract value for this project was not disclosed and will be included in the company's second-quarter 2010 bookings.

As PMC, Foster Wheeler will manage, on behalf of ADCO, the engineering, procurement and construction (EPC) phase of the Bida Al Qemzan development and will assist ADCO with the selection and award of EPC and construction contracts. The objective of the project is to achieve a production capacity of 20,000 barrels per day by the end of the third quarter of 2012.

"We are pleased to be awarded this PMC contract for the Bida Al Qemzan Field. Foster Wheeler's involvement in this project further extends our support to ADCO's upstream development program, following the recent award of the PMC for the Bab Field expansion and Qusahwira Field development. These awards constitute a strong vote of confidence in our project management expertise and in our upstream capabilities," said Umberto della Sala, president and chief operating officer, Foster Wheeler AG.

Foster Wheeler AG (Nasdaq: FWLT) 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 specialised 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.

Published 14/07/2010/2010

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