April 14, 2010 (FinancialWire) — Foster Wheeler AG (NASDAQ: FWLT) said that a subsidiary of its Global Engineering and Construction Group has been awarded contracts by Petrom S.A. for investments, which form part of Petrom’s Petrobrazi Modernization Project, a refinery modernization project being implemented at the Petrobrazi Refinery in Ploesti, Romania.

Petromis, which is majority-owned by OMV AG of Austria, is described by Foster Wheeler as the largest oil and gas producer in Southeast Europe.

Under the deal, Foster Wheeler will provide front-end engineering design modification services and engineering, procurement and construction management for the revamp of an atmospheric/vacuum distillation unit at the refinery.

In addition, the company has been awarded an EPCm contract for a new amine unit and the FEED for the revamp of a delayed coking unit.

Foster Wheeler said that the contract value for these awards was not disclosed and has been included in the company’s fourth-quarter 2009 bookings.

Switzerland-based Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[hlmsmlh] [bldgcnstctn] [nwdlsldw]