Foster Wheeler Awarded Engineering, Procurement and Construction Contract by PEMEX for Clean Fuels Project at Salina Cruz
14 Ottobre 2014 - 1:30PM
Business Wire
Foster Wheeler AG (NASDAQ:FWLT) announced today that a
subsidiary of its Global Engineering and Construction Group has
been awarded a contract by PEMEX REFINACIÓN for an ultra-low sulfur
diesel (ULSD) project at the Salina Cruz refinery, Oaxaca, Mexico.
Foster Wheeler’s scope of work, which also includes start-up and
testing, is scheduled to be completed in 2018.
The Foster Wheeler contract value was not disclosed. The initial
release of work, relating to detailed design and the procurement of
long-lead items, will be included in the company’s third-quarter
2014 bookings. The balance of the agreed workscope is expected to
be released in 2015.
The investment in the Salina Cruz refinery, in excess of US$500
million, is part of a significant clean fuels program being
implemented by PEMEX as a result of the country’s recent Energy
Reform. The objective of the program is to significantly reduce the
sulfur content of diesel produced from 500 to 15 parts per
million.
The ULSD project at the Salina Cruz refinery, which Foster
Wheeler is executing in joint venture with Arendal of Mexico, is a
complex upgrade which includes the major revamp of four diesel
hydrodesulphurization units, the installation of new units for
hydrogen production, sulphur recovery and sour water stripping, and
significant upgrades to the utilities and offsites facilities.
“We have a proven global track record in safely and successfully
delivering complex refinery revamps and clean fuels projects in
Mexico. We look forward to strengthening our already excellent
working relationship with PEMEX by bringing together this expertise
to deliver outstanding results for this strategically important
investment. We are delighted to be playing a key role in helping
PEMEX to achieve its vision for a new future, for which the Energy
Reform has been the catalyst,” said Roberto Penno, Chief Executive
Officer, Global Engineering and Construction Group, Foster
Wheeler.
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, minerals 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 website at www.fwc.com.
Safe Harbor Statement
Foster Wheeler AG news releases may contain forward-looking
statements that are based on management’s assumptions, expectations
and projections about the Company and the various industries within
which the Company operates. These include statements regarding the
Company’s expectations about revenues (including as expressed by
its backlog), its liquidity, the outcome of litigation and legal
proceedings and recoveries from customers for claims and the costs
of current and future asbestos claims and the amount and timing of
related insurance recoveries. Such forward-looking statements by
their nature involve a degree of risk and uncertainty. The Company
cautions that a variety of factors, including but not limited to
the factors described in the Company’s most recent Annual Report on
Form 10-K, which was filed with the U.S. Securities and Exchange
Commission on February 27, 2014, and the following, could cause the
Company’s business conditions and results to differ materially from
what is contained in forward-looking statements: the timing and
success of the pending offer and acquisition of the Company by AMEC
plc, the risk that the Company’s business will be adversely
impacted during the pending offer and acquisition of the Company by
AMEC plc, benefits, effects or results of the Company’s
redomestication to Switzerland, deterioration in global economic
conditions, changes in investment by the oil and gas, oil refining,
chemical/petrochemical and power generation industries, changes in
the financial condition of its customers, changes in regulatory
environments, changes in project design or schedules, contract
cancellations, the changes in estimates made by the Company of
costs to complete projects, changes in trade, monetary and fiscal
policies worldwide, compliance with laws and regulations relating
to the Company’s global operations, currency fluctuations, war,
terrorist attacks and/or natural disasters affecting facilities
either owned by the Company or where equipment or services are or
may be provided by the Company, interruptions to shipping lanes or
other methods of transit, outcomes of pending and future
litigation, including litigation regarding the Company’s liability
for damages and insurance coverage for asbestos exposure,
protection and validity of the Company’s patents and other
intellectual property rights, increasing global competition,
compliance with its debt covenants, recoverability of claims
against the Company’s customers and others by the Company and
claims by third parties against the Company, and changes in
estimates used in its critical accounting policies. Other factors
and assumptions not identified above were also involved in the
formation of these forward-looking statements and the failure of
such other assumptions to be realized, as well as other factors,
may also cause actual results to differ materially from those
projected. Most of these factors are difficult to predict
accurately and are generally beyond the Company’s control. You
should consider the areas of risk described above in connection
with any forward-looking statements that may be made by the
Company. The Company undertakes no obligation to publicly update
any forward-looking statements, whether as a result of new
information, future events or otherwise. You are advised, however,
to consult any additional disclosures the Company makes in proxy
statements, quarterly reports on Form 10-Q, annual reports on Form
10-K and current reports on Form 8-K filed with or furnished to the
Securities and Exchange Commission.
Foster Wheeler AGMediaUnited StatesPatti
Landsperger, 908-713-2944patti_landsperger@fwc.comorOther
Inquiries908-730-4000fw@fwc.com
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