Foster Wheeler wins FEED work from S-OIL to upgrade Korea refinery
Foster Wheeler was awarded contracts by South Korea's S-OIL Corp. for the front-end engineering design (FEED) for a residue upgrading project at the Onsan refinery in Ulsan, South Korea, officials said on Wednesday.
The Foster Wheeler contract values were not disclosed and will be included in the companys first-quarter 2014 bookings.
The upgrade of the refinery includes the addition of a residue hydrodesulfurization unit, a residue fluid catalytic cracker and multiple downstream upgrading units to enable the refinery to produce more higher-value products and, in particular, maximize production of polymer-grade propylene.
In addition to executing the FEED, Foster Wheeler will also prepare the tender for the engineering, procurement and construction (EPC) phase, procure long-lead items, evaluate the EPC bids, and prepare a cost estimate to support S-OILs final investment decision.
This award illustrates our strategy to deploy our global network of operations, with our execution centers working together to support our clients through the entire lifecycle of their planned investments, said Roberto Penno, CEO of Foster Wheeler's global engineering and construction business.
Foster Wheelers business solutions group in Reading, UK, performed the pre-FEED, and our execution centers in the UK and Thailand will now work together on the FEED to support S-OIL in the development of this major upgrade project at S-OILs world-scale refinery.
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