• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Foster Wheeler Awarded Basic Design Package Contract for Hydrogen Production Facility in Russia

Posted on: Wednesday, 13 July 2005, 12:01 CDT

Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that its UK subsidiary Foster Wheeler Energy Limited has been awarded a contract by OJSC "Oil Company Alliance" (Alliance) to prepare a basic design package for a hydrogen production facility at its Khabarovsk refinery in Russia. The new plant will produce 27 million standard cubic feet per day (SCFD) of hydrogen, with a minimum hydrogen purity of 99.9% by volume.

The Foster Wheeler contract value was not disclosed and the project was included in the company's first-quarter 2005 bookings.

"This award offers us the opportunity to develop further our relationship with Alliance, following completion of other work associated with their current upgrading project," said Steve Davies, chairman and chief executive officer of Foster Wheeler Energy Limited. "The new plant will use our proprietary TERRACE-WALL(TM) steam methane reforming technology for the production of hydrogen. This latest win, one of a number of recent hydrogen wins, builds upon our extensive hydrogen and syngas experience: over 100 Foster Wheeler-designed hydrogen plants, with a total installed capacity exceeding three billion SCFD, are in operation around the world."

"We are pleased to work with Foster Wheeler, utilizing its internationally recognized hydrogen technology and engineering expertise to ensure successful delivery of this project," commented Arsen Idrisov, president of OJSC "Oil Company Alliance."

The new unit will use mixed feedstocks, including hydrogen-rich gas, liquefied petroleum gases and naphtha from other units within the Khabarovsk refinery. The unit will supply hydrogen to a number of facilities within the refinery for the production of various fuels and will also export medium pressure steam to the refinery steam system. The hydrogen production unit includes the TERRACE-WALL steam methane reformer, pre-reformer, high temperature shift reactor, pressure swing adsorption unit and integral steam raising facilities. The basic engineering package will be completed in July 2005.

Notes to Editors:

1. Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of design, engineering, construction, manufacturing, project development and management, research and plant operation services. Foster Wheeler serves the refining, upstream oil and gas, LNG and gas-to-liquids, petrochemical, chemicals, power, pharmaceuticals, biotechnology and healthcare industries. The corporation is based in Hamilton, Bermuda, and its operational headquarters are in Clinton, New Jersey, USA. For more information about Foster Wheeler, visit our Web site at www.fwc.com.

2. Safe Harbor Statement

This news release contains 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 our expectations regarding revenues (including as expressed by our backlog), 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 under the heading "Business--Risk Factors of the Business" in the Company's most recent annual report on Form 10-K/A and the following, could cause the Company's business conditions and results to differ materially from what is contained in forward-looking statements: changes in the rate of economic growth in the United States and other major international economies, changes in investment by the power, oil and gas, pharmaceutical, chemical/petrochemical and environmental industries, changes in the financial condition of customers, changes in regulatory environment, changes in project design or schedules, contract cancellations, changes in estimates made by the Company of costs to complete projects, changes in trade, monetary and fiscal policies worldwide, currency fluctuations, war and/or terrorist attacks on facilities either owned or where equipment or services are or may be provided, outcomes of pending and future litigation, including litigation regarding our liability for damages and insurance coverage for asbestos exposure, protection and validity of patents and other intellectual property rights, increasing competition by foreign and domestic companies, compliance with debt covenants, recoverability of claims against customers and others, changes in estimates used in 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 our control. You should consider the areas of risk described above in connection with any forward-looking statements that may be made by us.

Source: Business Wire

More News in this Category