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March 13, 2014
Foster Wheeler awarded FEED contracts by S-OIL for residue-upgrading project
Foster Wheeler AG (Zug, Switzerland; www.fwc.com) says that subsidiaries of its Global Engineering and Construction Group have been awarded contracts by S-OIL Corporation for the front-end engineering design (FEED) for a residue upgrading project at S-OIL’s Onsan refinery in Ulsan, South Korea.
The Foster Wheeler contract values were not disclosed and will be included in the company’s 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-OIL’s final investment decision.