Foster Wheeler Awarded PMC Contract for Linear Alkyl Benzene Plant Expansion by Gulf Farabi in Saudi Arabia

Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has been awarded a contract by Gulf Farabi Petrochemical Company for the provision of project management consultancy (PMC) services for Gulf Farabi’s Linear Alkyl Benzene (LAB) plant expansion at Al-Jubail, Saudi Arabia.

The Foster Wheeler contract value for this project was not disclosed and was included in the company’s first-quarter 2010 results.

The new plant will have a production capacity of 100,000 tonnes per annum of LAB which is a basic ingredient in the formulation of synthetic detergents.

The first phase of the project covers the preparation and issue of an invitation to bid (ITB) for the engineering, procurement and construction management (EPCm), EPCm bid evaluations, preparation of the EPCm contract and support to Gulf Farabi during the engineering and procurement phase of the project. For the second phase, Foster Wheeler will provide support to Gulf Farabi during the construction phase, with key personnel based at site in 2010 through to 2011 when the project is scheduled for completion.

"Following on from our successful PMC role during the EPC phase of Gulf Farabi’s US$350 million grass roots n-paraffin and LAB project which came on-stream in 2006, we are very pleased to receive this latest contract which constitutes a strong vote of confidence in our project management skills,” said Umberto della Sala, president and chief operating officer, Foster Wheeler AG.

"Foster Wheeler’s contribution to our previous project is commendable and we are going ahead with this winning combination for our expansion project,” commented Mohammed Al-Bibi, president, Gulf Farabi Petrochemical Company Limited.

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 13,000 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, 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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