Foster Wheeler Wins Service Contract from Chevron Nigeria

Foster Wheeler's subsidiaries, Foster Wheeler Energy Limited and Foster Wheeler (Nigeria) Limited, in a joint venture with National Engineering & Technical Company Limited (NETCO), have been awarded a three-year term services contract by Chevron Nigeria Ltd.. CNL is a joint venture in which Nigerian National Petroleum Company (NNPC) has a 60 percent equity shareholding and Chevron, 40 percent. NETCO is a wholly owned subsidiary of NNPC.

The contract sets the terms for any engineering and project management services CNL may ask Foster Wheeler and NETCO to perform for CNL's future onshore and offshore projects. The booking values will be recorded as individual work orders are received.

"We are delighted to have this opportunity to build on our good working relationship with CNL," said Steve Davies, chairman and chief executive officer of Foster Wheeler Energy Limited. "We have been working closely with CNL on the Escravos gas-to-liquids (GTL) project in Nigeria, for which we prepared the feasibility studies, the front-end design and the invitation to tender for the engineering, procurement and construction contract. In addition, Foster Wheeler's Houston operation has undertaken design verification for the Escravos Gas Project Phase 3A Onshore project. I believe that our oil and gas experts can add significant value to our clients in this sector and this latest award is another key milestone in our strategy to deliver a responsive, high-quality local service to our clients in Nigeria."

"NNPC is supportive of Foster Wheeler and NETCO's relationship, which is focused on providing high quality services and meeting local content objectives," commented Philip Chukwu, managing director, NETCO, and former group general manager of National Petroleum Investment Management Services (NAPIMS), an NNPC subsidiary company.

"We are committed to working in partnership with Foster Wheeler to achieve CNL's schedule, cost, safety, quality and local content objectives," said Dr. F. Amakiri, former managing director of NETCO, and now group general manager, LNG & Power, NNPC.

"We are pleased to continue to work with both Foster Wheeler and NETCO, having already established good relationships with both organizations," said Jay Pryor, chairman and managing director of Chevron Nigeria Ltd. "The combination of these two quality engineering companies will enable us to meet the targets we have agreed for Nigerian content, and to maintain world-class standards for health, safety and environmental performance, quality, and project execution."