A subsidiary of
Foster wheeler AG
) Global Engineering and Construction Group received an EPCm
contract from Sasol Petroleum International (SPI) to provide low
pressure equipment for the latter's low pressure compression
project. This project is located at its central processing
facility based in Temane, Mozambique. Foster booked the
deal in the second quarter of 2013, but other financial terms
were not revealed.
SPI is part of Sasol Ltd. (
), which develops and manages the group's upstream interests in
oil and gas exploration.
The scope of the contract requires Foster to procure and
provide core equipments for the project including the
low-pressure, gas turbine-driven compressors and auxiliary
equipment. The equipments include inlet gas scrubbing and
discharge air coolers. In addition, Foster will also be
constructing a new substation with high voltage switch gears and
transformers. It will also update the existing substation with
the new facilities for expanding the distributed control system
and providing additional instrument air and nitrogen
Sasol is a world leader in the unique coal-to-liquids (CTL)
technology, owning and operating the largest integrated
commercial facility of its kind. The company has been
manufacturing synfuels and chemical feedstock from coal for over
50 years. Sasol's primary objective for this project is to
facilitate its Temane CPF to maintain the design and pressure
while gas fields decline.
Prior to this, Foster had worked with Sasol in the year 2000
for providing the design and engineering services for the
upstream development of field in Temane. In 2004, Foster
successfully delivered the Engineering, procurement and
management services for the same project.
Foster Wheeler's Global E&C Group designs, engineers and
constructs onshore and offshore upstream oil and gas processing
facilities, natural gas liquefaction facilities, terminals,
gas-to-liquids facilities, oil refining, chemical and
petrochemical, pharmaceutical and biotechnology facilities.
Foster currently has a Zacks Rank #2 (Buy). Other stocks in
the industry worth buying at the moment are
Micheal Baker Corporation
), which holds a Zacks Rank #1 (Strong Buy), and
), having a Zacks Rank #2 (Buy).
BAKER (MICHAEL) (BKR): Free Stock Analysis
FOSTER WHELR AG (FWLT): Free Stock Analysis
SASOL LTD -ADR (SSL): Free Stock Analysis
VSE CORP (VSEC): Free Stock Analysis Report
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