Foster Wheeler AG (Nasdaq: FWLT) announced Tuesday that a subsidiary of its Global Engineering and Construction Group has signed an Asian Enterprise Framework Agreement (EFA) with Shell Global Solutions International B.V. ("Shell").
Under this agreement Foster Wheeler will provide engineering and project management services for Shell's downstream projects in Asia. The agreement is for a five-year period, with an option to extend for another five years. Work will be released under individual work orders, and Foster Wheeler will record bookings as work orders are received.
"The award of this long-term agreement is testament to our ability to deliver consistently world-class services while meeting specific local needs," said Umberto della Sala, President and Chief Operating Officer, Foster Wheeler AG.
"While this agreement addresses Shell's downstream investments in Asia, we believe that delivering outstanding Foster Wheeler performance may offer opportunities to extend our scope to other onshore businesses and other locations."