Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a project management and consultancy (PMC) services contract by the Nghi Son Refinery and Petrochemical Limited Liability Company for its Nghi Son Refinery and Petrochemical (NSRP) Complex to be constructed in the Nghi Son Economic Zone, Thanh Hoa Province, Socialist Republic of Vietnam.
The Nghi Son Refinery and Petrochemical Limited Liability Company is a joint venture company formed by and between the Vietnam Oil and Gas Group, Vietnam; Idemitsu Kosan Co., Ltd., Japan; Kuwait Petroleum Europe B.V., Netherlands; and Mitsui Chemicals, Inc., Japan.
The Foster Wheeler contract value was not disclosed and will be included in the company's second-quarter 2013 bookings.
The NSRP Complex will consist of an integrated refinery, processing 200,000 barrels of crude oil per stream day, and petrochemical complex, with associated infrastructure, utilities and offsites facilities. The refinery is designed to process Kuwait Export crude. The plant will have the facilities for full conversion, with an integrated aromatics complex and polypropylene production. The expected total investment for the project is US$9 billion.
Foster Wheeler will manage and administer, in an integrated team with the client, the engineering, procurement and construction contractor consortium through to the completion of performance testing. The NSRP complex is expected to commence commercial operation in 2017.
“Foster Wheeler successfully completed the front-end engineering design for the NSRP complex, and subsequently provided project management services during the tendering phase for the main EPC contract,” said Umberto della Sala, President and Chief Operating Officer, Foster Wheeler AG. “We are delighted to be continuing our involvement with this strategic project during the implementation phase. Our performance during the earlier stages of the project, our refining expertise and our experience in executing major projects in Asia were critical factors in our success in winning this significant award.”