Foster Wheeler Awarded Contract by CEPSA in Spanish Refinery

Foster Wheeler Ltd's Spanish subsidiary, Foster Wheeler Iberia, S.A.U., part of its Global Engineering and Construction Group, has been awarded a contract by Compania Espanola de Petroleos, S.A. (CEPSA), one of the main Spanish refining companies, for the design, material supply, construction, and erection of a new crude heater, a new vacuum heater and a combustion air preheater system for La Rabida Refinery in Huelva, Spain. The new heaters form part of a project CEPSA is undertaking to increase the refinery's production of middle distillates.

This latest award follows the award to Foster Wheeler Iberia in the first quarter of 2007 of a contract for the detailed engineering of new crude, vacuum, and gas recovery units at the same refinery, which in turn had followed the company's successful completion of the front-end engineering design for these units. Mechanical completion of the two vertical cylindrical-type heaters and preheater system is scheduled for June 2009.

"We are very pleased with this latest award from CEPSA, which reflects our long track record and experience in the design of fired heaters for crude and vacuum units," commented Jesus Cadenas, chief executive officer of Foster Wheeler Iberia, S.A.U. "The collaboration between CEPSA and our Fired Heater Division dates back to 1967, when we supplied the first fired heaters for CEPSA's Gibraltar-San Roque Refinery."

CEPSA is a diversified energy company whose core business is the refining and marketing of petroleum products. Additionally, the Company has a world-class petrochemicals business, manufacturing intermediates for a wide variety of products used in the food, pharmaceutical, chemical, plastic and textile industries. The Company is also involved in other energy-related activities, such as oil and gas exploration and production, and is rapidly broadening its presence in the natural gas and power sectors as well. Not only is CEPSA a major energy player in Spain, but it also has an expanding global portfolio of operations in countries such as Algeria, Brazil, Canada, Colombia, Egypt, Panama and Portugal, selling its products on all five continents.

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Posted 03/09/07

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