Foster Wheeler News

03 Jul 2017

WorleyParsons Wins Contract from Saudi Aramco for Marjan Oilfield

Australia's WorleyParsons has won a contract from state oil firm Saudi Aramco to conduct engineering and design work for offshore facilities and pipelines for the expansion of the Marjan oilfield in Saudi Arabia, industry sources told Reuters. Worleyparsons and Saudi Aramco declined to comment. Under the new contract, the Australian company will design and engineer new offshore facilities such as platforms and additional pipelines to link to a new gas facility in Tanajib on the Gulf coast, and from Tanajib to the expanded natural gas liquid (NGL) facility in Khursaniyah, one of the sources said. Saudi Aramco is expanding the oilfield to meet increased demand for gas at home.

13 Jan 2017

Finalists for 2017 Offshore Achievement Awards Announced

Last year’s OAA winners Photo Society of Petroleum Engineers

Finalists for the 2017 Offshore Achievement Awards, sponsored by TAQA, have been announced today {Friday 13 January}. Hosted by the Society of Petroleum Engineers (SPE) Aberdeen Section, the annual awards recognise some of the industry’s most innovative technology developments as well as talented individuals and exceptional large and small company performance. This year’s shortlist comprises a wide cross-section of the offshore sector, with companies large and small, spanning a variety of sub-sectors, represented.

07 Jun 2016

Amec Foster Wheeler Bags LNG Terminal Work in India

Photo: Amec Foster Wheeler

Amec Foster Wheeler has been awarded a contract by Indian Oil LNG Private Ltd. Co. (IOLPL) for the Liquefied Natural Gas (LNG) Terminal in Ennore, Tamil Nadu, on the east coast of India. This award follows the successful completion of a front end engineering and design contract for the terminal in 2012. "Following our successful completion of the FEED contract, delivering this next phase of this project reinforces our position as a leading provider of LNG services to the Indian domestic market…

02 May 2016

DNS Appoints Esson, Chief Executive

Roger Esso Photo DNS

Decom North Sea (DNS), the representative body for the offshore decommissioning industry, which promotes and facilitates collaboration and cost reduction, today appointed a new chief executive. Roger Esson brings over 20 years’ highly relevant experience as DNS continues to play a critical part in the development of the UK decommissioning sector. Having held a variety of leadership positions within companies ranging from SMEs to tier 1 contactors, his previous roles have included time with Stork Technical Services and Amec Foster Wheeler’s decommissioning division.

16 Jun 2015

North Sea Job Losses Raise Skills and Safety Concerns

Photo: BP

Cost-cutting in Britain's North Sea oil and gas sector could lead to more acute skills shortages in future, industry experts have warned, with some expressing concerns that safety could be compromised. A plunge in crude prices over the last 12 months has prompted oil majors such as Royal Dutch Shell, BP , Chevron and ConocoPhillips to lay off hundreds of workers. Oil field services groups such as Amec Foster Wheeler , Wood Group and Petrofac are also in consultation with employees over job cuts.

05 Jan 2015

Kvaerner, Longview Power Reaches Settlement

Kvaerner North American Construction Inc. (a subsidiary of Kvaerner) has executed agreements today, with each of Longview Power, LLC, Siemens Energy Inc. and others regarding the disputes between them in both the arbitration proceedings concerning the Longview Project and the subsequent bankruptcy cases of Longview Power, LLC. Under the agreements, Kvaerner North American Construction Inc. will receive an aggregate amount of USD 48 million from various parties. In consideration, Kvaerner North American Construction Inc. will settle certain claims and release the Mechanics' Liens filed against the Longview power plant properties in Maidsville, West Virginia, and will waive all objections in the ongoing Longview Power, LLC bankruptcy proceedings.

16 Dec 2014

Chevron Awards North Sea Expansion Contracts

Chevron awarded front end engineering and design contracts for the expansion of its Captain oil and gas field in the North Sea to British suppliers Wood Group and Amec Foster Wheeler, it said on Tuesday. The offshore field, located around 68 miles (109 kilometres)north of Aberdeen, in 2013 produced around 25,000 barrels of oil and 3 million cubic feet of natural gas per day. The planned work aims to increase the field's output using polymer injection technology, Chevron said in a statement. Wood Group was awarded a contract for the subsea engineering of the trees, wellheads, controls and the polymer injection flowlines to the subsea injection wells.

14 Nov 2014

Foster Wheeler To Delist From NASDAQ

Foster Wheeler AG announced today that it intends to voluntarily delist the registered shares of the Company, par value CHF 3 per share, from the NASDAQ Global Select Market (“NASDAQ”) and, provided that the requirements for deregistration are met, in due course, it intends to subsequently deregister the Shares under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company also intends to suspend its reporting obligations under the Exchange Act once it is eligible to do so. As previously disclosed, pursuant to the Implementation Agreement dated 13 February 2014, by and between Amec Foster Wheeler plc (formerly AMEC plc) (“Amec Foster Wheeler”) and the Company (as amended by the letter agreement dated 28 March 2014…

30 Oct 2014

AVEVA E3D Takes Center Stage

Photo courtesy of AVEVA

Customer case studies combine with advances in asset visualization and cloud technologies to showcase a new era in the creation and management of complex Digital Assets. AVEVA announced the expansion of customer trials of its 3D design software in the cloud, after its debut at the AVEVA World Summit 2014 in Berlin. AVEVA Everything 3D (AVEVA E3D) was demonstrated running in the cloud and generated so much interest that an additional session was added to the already packed agenda for keen delegates to find out more.

24 Oct 2014

Foster Wheeler & MDM Engineering Merged

Courtesy : Foster Wheeler

Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”) on terms consistent with the merger implementation agreement entered into on March 12, 2014. MDM will become part of the rapidly growing Minerals and Metals group within Foster Wheeler. “This acquisition is part of our strategy to continue to enhance our global capability and capacity in the minerals and metals market.

23 Oct 2014

Foster Wheeler to Upgrade ExxonMobil's Antwerp Refinery

Antwerp refinery

Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and construction (EPC) contract by ExxonMobil Petroleum & Chemical BVBA (“Esso”) for the Antwerp Northwest Europe Resid Upgrade Project – Revamp and Offsites facilities at the Esso Antwerp Refinery at Antwerp, Belgium. Foster Wheeler's contract value was not disclosed. A small initial release of work was included in the company’s first-quarter 2014 bookings. The full release of work was included in the company's second-quarter 2014 bookings.

06 Oct 2014

Agenda, Speakers for AVEVA Summit Announced

AVEVA Venue allows for productive exchange of experiences.

AVEVA today announced additional speaker, sponsor and agenda details for this year’s AVEVA World Summit. The global event is being held in Berlin, Germany, from 14-16 October. AVEVA customers from across the world’s process, plant, power and marine industries are invited to the Summit to share their experiences and business challenges. Industry giants AMEC and RasGas will open the customer presentations, describing how AVEVA technologies are enabling them to lead the way in the creation and management of complex digital assets.

24 Sep 2014

Foster Wheeler For Air Quality Control System Upgrade In West Virginia

Logo

Foster Wheeler AG announced today that a subsidiary of its Global Power Group’s Environmental and Industrial division has been awarded a contract by Longview Power, LLC to rehabilitate and optimize the wet flue gas desulfurization system at their existing 700 MWe (net megawatt electric) Longview Power facility in Maidsville, West Virginia, USA. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the company’s third-quarter 2014 bookings.

18 Sep 2014

ZeoGas hires Foster Wheeler to Plan Gulf Coast Project

ZeoGas hires Foster Wheeler to Plan Gulf Coast Project

Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has entered into a Collaboration Agreement with ZeoGas LLC. In the first instance, Foster Wheeler will support ZeoGas’ final site selection and project planning towards the development of ZeoGas’ first fuels manufacturing plant, to be located on the US Gulf Coast. The terms of the agreement were not disclosed, and the contract value for an initial release of work related to the…

21 Aug 2014

Foster Wheeler to Supply Heat Recovery Steam Generator In Mexico

Courtesy : Foster Wheeler

Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Iberdrola, for the design and supply of a heat recovery steam generator (HRSG). The unit will be installed at a cogeneration plant that Iberdrola is building at the Kimberly Clark de Mexico Ramos Arizpe Facility in Coahuila, Mexico. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the company’s third-quarter 2014 bookings.

14 Aug 2014

Foster Wheeler Licensee Offers Heat Recovery Steam Generators

Heat Recovery Steam Generators

Foster Wheeler AG announced today that BHI Co., Ltd., a licensee of its Global Power Group, has been awarded two contracts for Heat Recovery Steam Generators (HRSGs) in Asia. BHI offers HRSGs, pulverized coal (PC) boilers, circulating fluidized bed (CFB) boilers and oil and gas boilers all utilizing Foster Wheeler’s proven technology. A contract by Mitsubishi Corporation was awarded to BHI for the design and supply of four HRSGs for the 240 megawatt Bangpoo cogeneration power plant in Thailand, which is scheduled to be on-line by third quarter 2016.

07 Aug 2014

Foster Wheeler 2Q, 2014 Results

Table

Foster Wheeler AG (Nasdaq: FWLT) today reported income from continuing operations for the second quarter of 2014 of $85.6 million, or $0.85 per diluted share, compared with $68.3 million, or $0.68 per diluted share, in the second quarter of 2013. Income from continuing operations in both quarterly periods was impacted by net asbestos-related gains and provisions, as detailed in an attached table. Excluding such items from both quarterly periods, adjusted income from continuing operations in the second quarter of 2014 was $86.8 million…

17 Jul 2014

Foster Wheeler-Led JV to Develop Nafusah Onshore Oilfield

Roberto Penno Chief Executive Officer of Global Engineering & Construction Group

Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering Company (Taknia), has been awarded a front-end engineering design (FEED) contract by Nafusah Oil Operations B.V. Libyan Branch for an onshore oilfield development, known as the Area 47 Development Project in Libya. Area 47 (North Hamada Field) is located in the Hamada region, approximately 200 km south of Tripoli, in the Ghadames Basin.

25 Jun 2014

Foster Wheeler Licensee To Supply Power Equipment to S. Arabia

Foster Wheeler Power Plant

Foster Wheeler AG (Nasdaq:FWLT) announced today that BHI Co., Ltd., a licensee of its Global Power Group, has been awarded a contract by Samsung C&T for the design and supply of six heat recovery steam generators (HRSGs) for the 2,100 megawatt Rabigh II combined-cycle power plant in Saudi Arabia. BHI has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the royalty value received for the contract was included in Foster Wheeler’s bookings for the first quarter of 2014. Commercial operation of the units is scheduled to begin in 2017.

24 Jun 2014

Foster Wheeler Contracted For Terrace WallTM Steam Reformer Heater

Courtesy Foster Wheeler

Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Glencore Oil Projects AG for the engineering and material supply of a steam reformer heater for hydrogen production for the Orsknefteorgsyntez Refinery at Orsk, Russia. The value of Foster Wheeler’s contract was not disclosed and was included in the company’s first-quarter 2014 bookings. The heater will be based on Foster Wheeler's Terrace WallTM design. Foster Wheeler’s scope of work is scheduled to be completed in the second quarter of 2015.

23 Jun 2014

Foster Wheeler Signs Agreement With BOC to Replace Heat Exchangers

Courtesy Foster Wheeler

Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has signed an engineering, procurement and construction management (EPCm) services agreement with BOC, a member of the Linde Group, for the installation of replacement heat exchangers at BOC’s Teesport facility, Teesside, in northeast England. The Foster Wheeler contract value was not disclosed and was included in the company’s first-quarter 2014 bookings. Under this agreement…

17 Jun 2014

Foster Wheeler Wins Contract For Retrofit-SCR System

Courtesy Foster Wheeler

Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Turun Seudun Energiantuotanto Oy (TSE) for the design, supply and erection of a retrofit-selective catalytic reduction (SCR) system for TSE’s Naantali unit 3 in Finland. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the company’s bookings for the second-quarter of 2014. Commercial operation of the SCR system is scheduled for October 2015.

13 Jun 2014

Foster Wheeler Files Definitive Proxy Materials For EGM

Courtesy Foster Wheeler

Foster Wheeler AG announced today that it has filed with the U.S. Securities and Exchange Commission (SEC) definitive proxy materials in connection with its Extraordinary General Meeting (EGM) to be held on July 10, 2014 at the Company’s offices in Baar, Switzerland. The Company also is mailing these definitive proxy materials (including voting cards) to holders of record as of June 10, 2014. As described in the definitive proxy materials filed with the SEC, the Company's shareholders…

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