Foster Wheeler Selected for Initial Feed by Rosneft and ExxonMobil for Proposed LNG Project in Russian Far East
Foster Wheeler AG (Nasdaq:FWLT) announced today 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.
“We are delighted to have been selected by two of the world’s major oil and gas operators for this LNG liquefaction project in the Russian Far East,” said Umberto della Sala, President and Chief Operating Officer of Foster Wheeler AG. “This award is testament to Foster Wheeler’s proven capabilities in the design and construction of large-scale LNG facilities in remote, challenging and environmentally sensitive locations. Our proven track record in the delivery of LNG plants using modularization and pre-fabrication strategies will be a key factor in the development of robust and efficient concepts during the initial front-end design phase.”
“We are pleased with the technical progress of our joint team of experts from Rosneft and ExxonMobil,” said Igor Sechin, President, Rosneft. “With our initial FEED contractors on board now we will see the project begin to take shape in a matter of months. We are taking a determined approach with this project to help monetize the gas resources of Russia.”
Source: Foster Wheeler AG
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