A subsidiary of
Foster Wheeler AG
) Global Engineering and Construction Group recently signed an
agreement to provide technical services to Russia-based OJSC
Khabarovsk Oil Processing Refinery. The financial terms of the
deal remain undisclosed and the order will be booked when OJSC
releases the work.
The scope of the agreement requires Foster to provide
technical services for a complex that includes a hydrocracker,
hydrotreater, hydrogen unit, along with other units that treat
impurities including amine, sulfur, sour water, vapor and also
the waste waters.
Foster will also provide technical services for a ground
flare, pump houses and a tank farm. The technological base for
the hydrogen plant will be Terrace Wall, a proprietary steam
methane reforming technology developed by Foster.
Foster has a decade long work experience on this
Hydro-Processing Complex, as it had provided the Front End
Engineering Designs (FEED) along with designs for the hydrogen
production facility and steam reformers. Foster has also been
providing consultancy services in the Engineering, Procurement
and Construction (EPC) phase of the project. OJSC's intent behind
this project is to manufacture lighter products which have
relatively higher values.
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
Foster currently has a Zacks Rank #2 (Buy). Other stocks in
the industry worth buying at the moment are
Michael Baker Corp.
), which holds a Zacks Rank #1 (Strong Buy),
), both having a Zacks Rank #2 (Buy).
BAKER (MICHAEL) (BKR): Free Stock Analysis
FOSTER WHELR AG (FWLT): Free Stock Analysis
PERNIX GROUP (PRXG): Get Free Report
VSE CORP (VSEC): Free Stock Analysis Report
To read this article on Zacks.com click here.