Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract to design, supply and erect a heat recovery steam generator (HRSG) by the Spanish company, REPSOL PETROLEO S.A. The HRSG and auxiliary equipment will be integrated in a cogeneration plant being built at the REPSOL Cartagena Refinery in Murcia, Spain. Foster Wheeler will also provide start-up supervision services.

Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the company’s fourth quarter 2009 bookings. Commercial operation is scheduled for the first quarter of 2012.

The HRSG will be coupled with a General Electric PG-6581 gas turbine and recover heat from the gas discharge stream, producing high pressure and medium pressure steam for use in refinery processes and electricity generation at the Cartagena facility. The unit will be equipped with a bypass stack and diverter, as well as post-firing and fresh air capability, for continuous operation even after a combustion turbine trip.

"This boiler is the seventh HRSG awarded to Foster Wheeler by REPSOL, a true testimony that Foster Wheeler meets the high degree of design and quality standards demanded by REPSOL," said Eric Svendsen, chief executive officer of Foster Wheeler Energia, S.L. in Madrid.

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs over 14,000 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.

Source: Foster Wheeler