Foster Wheeler awarded refinery contracts by S-OIL in South Korea

Source:Foster Wheeler AG

The upgrade of the refinery includes the addition of a residue hydrodesulfurization unit, a residue fluid catalytic cracker and multiple downstream upgrading units. Foster Wheeler AG (Nasdaq:FWLT) announced today that subsidiaries of its Global Engineering and Construction Group have been awarded contracts by S-OIL Corporation for the front-end engineering design (FEED) for a residue upgrading project at S-OIL’s Onsan refinery in Ulsan, South Korea.

The Foster Wheeler contract values were not disclosed and will be included in the company’s first-quarter 2014 bookings.

The upgrade of the refinery includes the addition of a residue hydrodesulfurization unit, a residue fluid catalytic cracker and multiple downstream upgrading units to enable the refinery to produce more higher value products and, in particular, maximize production of polymer-grade propylene.

In addition to executing the FEED, Foster Wheeler will also prepare the tender for the engineering, procurement and construction (EPC) phase, procure long-lead items, evaluate the EPC bids, and prepare a cost estimate to support S-OIL’s final investment decision.

“This award illustrates our strategy to deploy our global network of operations, with our execution centers working together to support our clients through the entire lifecycle of their planned investments,” said Roberto Penno, chief executive officer, Foster Wheeler Global Engineering & Construction Group. “Foster Wheeler’s Business Solutions Group in Reading, UK, performed the pre-FEED, and our execution centers in the UK and Thailand will now work together on the FEED to support S-OIL in the development of this major upgrade project at S-OIL’s world-scale refinery.”

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs