GASCO contract for FW

Foster Wheeler announced today that one of its subsidiaries has been awarded a contract by Abu Dhabi Gas Industries (GASCO) to provide management services for the engineering, procurement and construction (EPC) phase of GASCO’s Habshan Gas Complex Expansion (HGCE) Project at Habshan, Abu Dhabi, UAE.

GASCO, a subsidiary of Abu Dhabi National Oil Company, is one of the largest gas processing companies in the world. The management services will be undertaken by Foster Wheeler Energy Limited in the UK, which was previously awarded the contract to provide management services for the front-end engineering design and EPC contractor selection phases of this project.

The value of the contract was not disclosed and the project will be included in the company’s fourth-quarter 2005 bookings.

The HGCE Project is a $1 billion expansion of the existing Habshan Gas Complex, one of the world’s largest gas processing plants. This expansion project will allow the processing of incremental associated gas resulting from ADNOC’s expansion of its crude oil production from 1.2 to 1.4 million barrels per day. Associated gas is found in association with crude oil, as distinct from non-associated gas, which is produced from reservoirs that do not contain significant quantities of crude oil.