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Stock Market & Financial Investment News

News Breaks
March 25, 2014
07:36 EDTFWLT, OMVKYFoster Wheeler signs alliance with OMV
Foster Wheeler (FWLT) announced that a subsidiary of its Global Engineering and Construction Group has signed an alliance agreement with OMV (OMVKY) to provide integrated project management and engineering, procurement and construction management services. Under this five-year agreement, Foster Wheeler will provide services on privileged basis for the OMV refineries located in Burghausen and Schwechat. The services to be supplied by Foster Wheeler, through specific work orders, include front-end loading for projects of any size as well as engineering, procurement and construction management services for projects up to a specified threshold limit with respect to Total Installed Cost. Bookings will be made as specific work orders are released by OMV.
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July 17, 2014
07:32 EDTFWLTFoster Wheeler-led JV awarded contract by Nafusah Oil Operations
Foster Wheeler announced that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering, has been awarded a front-end engineering design contract by Nafusah Oil Operations Libyan Branch for an onshore oilfield development, known as the Area 47 Development Project in Libya. Area 47 is located in the Hamada region, approximately 200 km south of Tripoli, in the Ghadames Basin. The Foster Wheeler contract value was not disclosed and will be included in the company’s 2Q14 bookings.

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