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Foster Wheeler-led JV wins Saudi Aramco Khurais EPC contract

Saudi Arabia: Thursday, September 21 - 2006 @ 08:02

The Foster Wheeler contract value was not disclosed and will be included in the company’s third-quarter 2006 bookings.

The Khurais Gas Facility is one of the main contract packages that make up the Khurais Crude Increment Program, which aims to deliver 1.2 million barrels per day (b/d) of Arabian light crude by 2009. This program is the largest project to be developed under Saudi Aramco’s expansion program aimed at increasing oil production by the end of the decade and is one of the most important oil projects in the world today.

“This is a very important win for Foster Wheeler,” said Steve Davies, chairman and chief executive officer of Foster Wheeler Energy Limited. “This award further demonstrates our commitment to, and our growing strength, in the upstream oil and gas sector, a strategically important business for Foster Wheeler. It also further demonstrates Saudi Aramco’s confidence in our ability to meet their objectives for this project, based on our proven performance on the front-end design for the entire Khurais development, and on our performance on Saudi Aramco’s previous major oil and gas developments, such as Haradh and Qatif. We have consistently met or exceeded Saudi Aramco’s safety, quality, schedule and cost targets and, together with Hyundai, our joint venture partner for Khurais, are fully committed to delivering the same best-in-class performance for this project.”

“This program is one of the largest industrial projects being undertaken in the world today and is the largest crude increment program undertaken in the history of Saudi Aramco. This program is challenging because of the scope and complexity of the facilities, the extensive and diverse work locations and the short timescales involved,” commented Mr. A. A. Al-Ajmi, vice president, project management, Saudi Aramco. “We are confident that the Foster Wheeler and Hyundai joint venture has the skills and track record to manage this challenge and to deliver a world-class gas plant.”

The Khurais Crude Increment Program covers three oil fields: Khurais, Abu Jifan and Mazlij. The Khurais Gas Facility will be designed to process the sour associated gas produced from the three oilfields into a natural gas liquid product and a dry, single-phase sour shipping gas. The plant will process a total of 563 million standard cubic feet per day of sour associated gas and 70,000 b/d of hydrocarbon condensate.

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Thursday, September 21- 2006 @ 8:02 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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