Foster Wheeler AG
) received an Australian contract for the design and supply of
three utility package steam generators located at the Ichthys
Project. The project involves onshore LNG facilities at Blaydin
Point, near Darwin, Northern Territory.
The contract was awarded by the joint venture comprising CH2M
HILL Australia Pty Ltd. and UGL Engineering Pty Ltd. to a
subsidiary of Foster Wheeler's Global Power Group. The terms of
the deal remains undisclosed but the contract is included in the
company's first quarter 2013 bookings.
Foster Wheeler has full authorization to commence the work.
Delivery of the new steam generators is scheduled for fourth
For the Ichthys Project, Foster Wheeler will design and supply
the package steam generators as well as auxiliary equipment. The
design will be as per environmental regulatory requirements for
burning both low pressure natural gas and liquid iso-pentane.
Total capacity of the three steam generators is expected to be
278 tonnes per hour.
Foster Wheeler has more than 60 years of experience in
designing steam generator product range.
The company also received a study contract from the Energy
Technologies Institute (ETI). The contract was awarded to the
Global Engineering and Construction Group of the company.
Over the five year of study, Foster wheeler together with the
British Geological Survey will assess the economics of flexible
power generation systems. These systems involve the production of
hydrogen from coal, biomass or natural gas, the intermediate
storage of hydrogen (for example in underground salt caverns) and
the production of power in flexible turbines. Although the value
of the contract remains undisclosed, the contract is included in
the company's first quarter 2013 bookings.
Foster Wheeler operates through two business groups: the
Global Engineering and Construction Group - or Global E&C
Group - and the Global Power Group.
The Global E&C Group operates worldwide and designs,
engineers and constructs onshore and offshore upstream oil and
gas processing facilities, natural gas liquefaction facilities
and receiving terminals, gas-to-liquids facilities, oil refining,
chemical and petrochemical, pharmaceutical and biotechnology
facilities and related infrastructure, including power generation
and distribution facilities, and gasification facilities.
The Global Power Group designs, manufactures and erects
steam generating and auxiliary equipment for electric power
generating stations and industrial facilities worldwide.
Fluor currently has a Zacks Rank #3 (Hold) while some of its
competitors such as
Quanta Services Inc.
) has a Zacks Rank #1 (Strong Buy) and
Aecom Technology Corporation
) carries a Zacks Rank #2 (Buy).
AECOM TECH CORP (ACM): Free Stock Analysis
FOSTER WHELR AG (FWLT): Free Stock Analysis
QUANTA SERVICES (PWR): Free Stock Analysis
To read this article on Zacks.com click here.