ZUG, Switzerland--(BUSINESS WIRE)--Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by YPF S.A. for the delayed coker heater for the new delayed coking unit at YPF’s Complejo Industrial La Plata in Argentina.
Foster Wheeler’s scope of work includes engineering, equipment supply and supervision to construction and start-up.
The terms of the agreement were not disclosed and the contract value was included in the company’s fourth-quarter 2010 bookings.
The fired heater is an integral part of the new coker, which uses Foster Wheeler’s leading Selective Yield Delayed Coking (SYDECSM) technology. Foster Wheeler is providing the detailed engineering, procurement services, and assistance with construction and plant start-up for the new coker. The delayed coker heater for the new delayed coking unit is expected to be completed by June of 2012.
“The coker heater is an integral part of our coking technology and incorporates key design features which are pivotal to the excellent performance and reliability delivered by our cokers,” said Umberto della Sala, Interim Chief Executive Officer of Foster Wheeler AG. “We have been working closely with YPF for three years to develop the right coking solution for its refinery and we are very pleased with this latest award.”
Foster Wheeler’s SYDECSM process is a flexible thermal conversion process used by refiners worldwide to upgrade heavy residue feed and process it into high value transport fuels and coke products for fuel and metallurgical markets. The SYDECSM process can be designed to maximize clean liquid yields while minimizing fuel coke yields, or to achieve other objectives, for example, to minimize heavy gas oil yields or to produce specific grades of coke for industrial use. Foster Wheeler is a market leader in delayed coking and has supplied its process technology worldwide for over 80 new cokers and has implemented more than 70 delayed coker revamps.
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.
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