Foster Wheeler awarded contract by discovery gas transmission for services in the Gulf of Mexico

Friday, Feb 10, 2012

Foster Wheeler AG (Nasdaq: FWLT) announced today that Foster Wheeler Upstream, part of its Global Engineering and Construction Group, has been awarded a contract by Discovery Gas Transmission, LLC to provide design, engineering and technical services for a junction platform, facilities and associated pipelines within the Discovery System at South Timbalier 283, in the Gulf of Mexico.

“This project gives us an opportunity to fully showcase our wide range of capabilities and will build on our track record for delivering complex offshore projects in the Gulf of Mexico”

The Foster Wheeler contract value, which was not disclosed, will be included in the company’s fourth-quarter 2011 bookings.

The platform, located in approximately 350 feet of water, will be a four-pile structure with a two-level deck. It will be designed as an unmanned structure with a control system designed to shut down the facility in the event of an upset condition. The new infrastructure will enable the existing Discovery pipeline to operate at a higher pressure, both before and after the connection of the new Keathley Canyon pipeline.

“This project gives us an opportunity to fully showcase our wide range of capabilities and will build on our track record for delivering complex offshore projects in the Gulf of Mexico,” said Clive Vaughan, Chief Executive Officer, Foster Wheeler Upstream.

Williams Partners L.P. (NYSE: WPZ) owns 60 percent of the Discovery system and operates it. DCP Midstream Partners, LP (NYSE: DPM) owns 40 percent of the system.

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 12,000 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, mining 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 Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.

Source: Business Wire

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