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Petroleum industry

Foster Wheeler Awarded Contract for Oil Export Facilities in Iraq

Strategic Insights

— 2 min read

Foster Wheeler AG has announced that its UK-headquartered subsidiary, Foster Wheeler Energy Limited, has been awarded a contract by the South Oil Company for the basic engineering of new oil export facilities in Iraq. The project aims to supplement the existing Al-Basra terminal, with the new facilities featuring single point mooring tanker loading buoys, oil pumping, metering, and pipelines to achieve an export capacity of 4.5 million barrels per day. This contract will be included in the company's first-quarter 2009 bookings, with Foster Wheeler preparing a technical definition package, plans, and schedules for full project implementation.

Key Takeaways:

  • Foster Wheeler's UK-headquartered subsidiary, Foster Wheeler Energy Limited, has been awarded a contract by the South Oil Company for the basic engineering of new oil export facilities in Iraq.
  • The new facilities will have an export capacity of 4.5 million barrels per day, supplementing the existing Al-Basra terminal.
  • Foster Wheeler will prepare a technical definition package, plans, and schedules for full project implementation, as well as invitation to bid documents for the supply and construction of the offshore export facilities.
  • The contract value for this project was not disclosed.
  • Mike Beaumont, chairman and chief executive officer of Foster Wheeler Energy Limited, has a long and successful track record in upstream oil and gas projects, leveraging the company's ability to add value and innovation during the concept and early design phases.
  • Foster Wheeler employs over 14,000 talented professionals with specialized expertise, serving its clients through two primary business groups.
  • The company's Global Engineering and Construction Group designs and constructs leading-edge processing facilities for various industries, including upstream oil and gas, LNG, and power.
  • Foster Wheeler's Global Power Group is a world leader in combustion and steam generation technology.

Statistics:

  • The new oil export facilities in Iraq aim to achieve an export capacity of 4.5 million barrels per day.
  • Foster Wheeler's Global Engineering and Construction Group employs over 14,000 professionals with specialized expertise.
  • The company's Global Power Group is a world leader in combustion and steam generation technology, designing, manufacturing, and erecting steam generating and auxiliary equipment for power stations and industrial facilities.
  • Foster Wheeler has a long and successful track record in upstream oil and gas projects, leveraging the company's ability to add value and innovation during the concept and early design phases.

Sources:

  • Foster Wheeler AG (Nasdaq: FWLT) news release, exact date not provided.
  • Foster Wheeler AG web site at www.fwc.com.

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