Oct 8 2010
Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has been awarded a contract by the CO2 Capture Project (CCP) to undertake a study to evaluate a range of refinery, in-situ extraction of bitumen and natural gas power generation CO2 capture scenarios.
The Foster Wheeler contract value for this project was not disclosed and was included in the company’s third-quarter 2010 bookings.
The CCP is a partnership of seven of the world’s major energy companies including BP, Chevron, Eni, Petrobras, Shell, Suncor, ConocoPhillips and associate member EPRI. Since its formation in 2000, the CCP has been at the forefront of advancing the technologies that will underpin the widespread adoption of CCS. The CCP is now in the third phase of its work (CCP3); a critical stage in preparing the ground for widespread deployment of CCS. The study awarded to Foster Wheeler will contribute to this phase of the CCP’s program.
Foster Wheeler will study the application of CO2 post-combustion capture to a range of refinery, in-situ extraction of bitumen and natural gas power generation CO2 capture scenarios, including both retrofit and green-field solutions. The study is expected to be completed at the end of the fourth quarter of 2010 with the production of a ‘CO2 Capture Handbook’ to be used by the CCP participants for their use in pre-screening work on carbon capture projects.
“This award reflects the depth and range of our carbon capture and storage expertise and our extensive energy refining and chemicals experience. It also demonstrates the client’s confidence in our ability to leverage this expertise and apply creativity and outside-the-box thinking to deliver high value-added consultancy and help our client meet its objectives,” said Umberto della Sala, president and chief operating officer, Foster Wheeler AG.