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Foster Wheeler frame agreement with Italiana Energia Servizi

Posted: 30 July 2005

Foster Wheeler Ltd reported that Foster Wheeler Italiana S.p.A. has signed a frame agreement for the provision of engineering services for Italiana Energia Servizi S.p.A. (IES), owner of Mantua Refinery, Italy.

Mantua Refinery, located in Northern Italy, is a medium-size refinery owned by private investors.

The terms of the award were not disclosed. Under the agreement, which is valid until December 2006, Foster Wheeler Italiana will provide services on an as-required basis, under specific work orders. These services include the development of feasibility studies, basic and front-end design, project management and planning, technical assessment and reports, detailed engineering, inspection and expediting, and technical assistance.

The work orders received to date will be included in Foster Wheeler's second-quarter 2005 bookings.

"We are very pleased to have signed this agreement," commented Mario Giuliani, director of sales of Foster Wheeler Italiana. "It provides an excellent basis upon which to build a strong and collaborative working relationship with Mantua Refinery."

"IES plans to continue to implement its modernization and technological upgrading plan at its Mantua refinery, the first step of which was the installation and start-up of the new hydrocracker in 2004," said Carlo Ballabio, director of the refinery. "With the signing of this frame agreement with Foster Wheeler, we believe we have a technical partner who will be able to meet all of our requirements going forward."

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