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Foster Wheeler Awarded Contract for Terrace WallTM Steam Reformer Heater in Russia

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Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Glencore Oil Projects AG for the engineering and material supply of a steam reformer heater for hydrogen production for the Orsknefteorgsyntez Refinery at Orsk, Russia.

The value of Foster Wheeler's contract was not disclosed and was included in the company's first-quarter 2014 bookings.

The heater will be based on Foster Wheeler's Terrace WallTM design. Foster Wheeler's scope of work is scheduled to be completed in the second quarter of 2015. This latest award follows Glencore's award to Foster Wheeler of a Terrace WallTM visbreaker heater for this refinery in 2013.

“We have a long and very successful track record in designing and supplying heaters for the Russian market, and we are very pleased to have received this award, which constitutes another vote of confidence in the quality and reliability of our heaters,” said Roberto Penno, Chief Executive Officer, Foster Wheeler Global Engineering and Construction Group.

Foster Wheeler's Terrace WallTM reformer is characterized by a firing arrangement and sloped-wall radiant section design that, together, enable long catalyst tube life (often in excess of 100,000 hours) and deliver the flexibility to extend a reformer's operating envelope. This often allows production of hydrogen in excess of the design capacity of the hydrogen production unit, which may in turn deliver additional economic benefits. Foster Wheeler's reformers can operate with ultra-low-NOx burners to meet tightening environmental emission standards worldwide. Foster Wheeler has supplied over 200 Terrace WallTM steam reformers to the refining and petrochemical industries in more than 40 countries worldwide.

Foster Wheeler AG is a global engineering and construction company and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 13,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company's Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, minerals and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company's Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Reading, United Kingdom. For more information about Foster Wheeler, please visit our website at www.fwc.com.

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