Foster Wheeler Wins Mexican Contract - Analyst Blog
February 13 2012 - 12:23PM
Zacks
Foster Wheeler AG’s (FWLT) Foster Wheeler
Upstream business, part of its Global Engineering and Construction
Group, received a contract from the Discovery Gas Transmission, LLC
for its Discovery System at South Timbalier 283, in the Gulf of
Mexico. The contract involves provision for design, engineering and
technical services for a junction platform, facilities and
associated pipelines within the Discovery System.
The contract value has not been disclosed. Foster Wheeler’s
fourth-quarter 2011 bookings include the value of the contract.
The four-pile structure platform with a two level deck will be
built in approximately 350 feet of water. The facility will have an
unmanned structure with a control system through which it can be
shut down in an adverse condition.
The platform, located in approximately 350 feet of water, will
be a four-pile structure with a two-level deck. It will be designed
as an unmanned structure with a control system designed to shut
down the facility in the event of an upset condition. With the new
infrastructure, the existing Discovery pipeline will be able to
work at higher pressure, both before and after the connection of
the new Keathley Canyon pipeline.
Foster Wheeler AG is based in Zug Switzerland, but its
operational headquarters are in Clinton NJ USA. The majority of
Foster’s revenues and new businesses originate from outside the
United States. The company serves the following industries:
Oil and Gas; Oil Refining; Chemical & Petrochemical;
Pharmaceutical; Environmental; Power Generation; and Power Plant
Operation and Maintenance. The major competitors of Foster Wheeler
are Fluor Corporation (FLR) and Jacobs
Engineering Group Inc. (JEC).
Currently, we are maintaining a Zacks #5 Rank (short-term
Strong-Sell recommendation) on Foster Wheeler.
FLUOR CORP-NEW (FLR): Free Stock Analysis Report
FOSTER WHELR AG (FWLT): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
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