Foster Wheeler Signs Three-Year Contract with Statoil for FEED

Foster Wheeler AG FWLT announced today that a subsidiary of its Global Engineering and Construction Group has signed a three-year frame agreement with Statoil Petroleum AS STO for the provision of front-end engineering design (FEED) services for future projects at the Kårstø and Kollsnes processing plants, located in Norway north of Stavanger and north-west of Bergen, respectively. The frame agreement includes an option for Statoil to extend the agreement for a further two years and for Foster Wheeler to execute concept studies as well as FEEDs. The value of the agreement was not disclosed. Bookings will be recorded as work is released by Statoil. The Kårstø processing plant plays a key role in the See full press release