London, UK,
26
May
2016
|
08:00
Europe/London

Amec Foster Wheeler awarded FEED contract by Kuwait Oil Company

Newsfacts:
  • FEED contract for Oil Gathering Centre GC-24
  • Project to increase facility capacity by 30%

Amec Foster Wheeler announces today that it has been awarded a front end engineering design (FEED) contract by Kuwait Oil Company (KOC) to upgrade its Oil Gathering Centre GC-24.

This project continues Amec Foster Wheeler’s work with KOC on major projects since 2004, which has recently included three new Gathering Centres and strategic pipeline projects in North Kuwait.

KOC is planning to increase oil production by up to 1 million barrels of oil per day by 2020 and to maintain this for 10 years. Critical to the expansion, this project will enhance the existing GC-24 facility, increasing capacity by 50,000 barrels of oil per day from the current level of 165,000 barrels of oil per day, as well as optimising existing facilities to cater for the expected high level of water in the mix of crude oil and gas.

Notes to editors

Amec Foster Wheeler (www.amecfw.com) designs, delivers and maintains strategic and complex assets for its customers across the global energy and related sectors.

 

Employing around 40,000 people in more than 55 countries and with 2015 revenues of £5.5 billion, the company operates across the oil and gas industry – from production through to refining, processing and distribution of derivative products – and in the mining, clean energy, power generation, pharma, environment and infrastructure markets.

 

Amec Foster Wheeler offers full life-cycle services to offshore and onshore oil and gas projects (conventional and unconventional, upstream, midstream and downstream) for greenfield, brownfield and asset support projects, plus leading refining technology.

 

Amec Foster Wheeler shares are publicly traded on the London Stock Exchange and its American Depositary Shares are traded on the New York Stock Exchange. Both trade under the ticker AMFW.

 

 

Forward-Looking Statements

 

This announcement contains statements which constitute “forward-looking statements”. Forward-looking statements include any statements related to the timing, results and success of contracts, and are generally identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “will,” “may,” “continue,” “should” and other similar expressions. Forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Amec Foster Wheeler, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements. Amec Foster Wheeler does not undertake to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise.