A subsidiary of
Foster Wheeler AG
) Global Engineering and Construction Grouprecently received a
contract from Wood Mackenzie to provide consultancy services for
two projects in Peru. The value of the contract was not
disclosed, but Foster will include the contract in its second
The two projects that require consultancy services include the
Energy Security and South Pipeline Project in Peru. According to
the contract, Foster is required to develop the design and give a
cost estimate for both these projects. Foster expects to complete
its work by the fourth quarter of 2013.
Both the Energy Security and South Pipeline projects comprise
the development of pipelines to support the existing natural gas
and natural gas liquids transportation system from Las Malvinas
to the Chiquintirca compression station.
The South Pipeline Project will transport the existing natural
gas transportation system to the south coast. The Energy Security
project requires the establishment of thermoelectric power
generation plants having a capacity of up to 2,000 megawatts to
promote the development of an energy center and petrochemical
complex at the southern part of the country.
Foster Wheeler's Global E&C Group provides technical and
economic analyses and study reports to owners, investors,
developers, operators and governments. These services include
concept and feasibility studies, market studies, asset
assessments, environmental assessments, energy and emissions
management, product demand and supply modeling and technology
evaluations. Recently, the Global E&C Group received a
) to conduct a feasibility study to upgrade the latter's
Mongstad Refinery in Norway.
Foster currently has a Zacks Rank #2 (Buy). Other stocks in
the industry worth buying at the moment are
Pernix Group Inc.
). Both have a Zacks Rank #2 (Buy).
FOSTER WHELR AG (FWLT): Free Stock Analysis
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