Date: October 25, 2001
Source: News Room
A subsidiary of Foster Wheeler Ltd. (NYSE:FWC) has signed a letter of intent with Chilean state-run oil company, Empresa Nacional de Petroleo, for the development of a delayed coker project on the site of an existing refinery. The agreement to develop the project valued at $300 million, provides for Foster Wheeler to perform the basic engineering, followed by a second phase to include engineering, procurement and construction. The new coker will be built in Concon, Chile, and will process 20,000 barrels per day of heavy oil to produce petroleum coke. Foster Wheeler's scope of work will also include the building of a 44,000 barrels-per-day diesel and naphtha hydrotreating plant, and units for LPG treatment, amine regeneration, sour water stripping and other miscellaneous equipment. Construction is scheduled to begin in 2002, with operations commencing in 2005. More information: www.fwc.com.
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