Foster Wheeler Awarded Feed for Karan Onshore Gas Processing Facilities in Saudi Arabia.

HAMILTON, Bermuda -- Foster Wheeler Ltd. (NASDAQ: FWLT) announced today that two subsidiaries in its Global Engineering and Construction Group, Foster Wheeler Energy Limited and Foster Wheeler Arabia Limited, have been awarded a front-end engineering design (FEED) and program management services contract by Saudi Aramco for the Karan onshore gas processing facilities at Khursaniyah, Kingdom of Saudi Arabia.

The Foster Wheeler contract value was not disclosed. The award will be included in the company's second-quarter 2007 bookings.

The onshore gas processing facilities will process one billion standard cubic feet per day (SCFD) of gas from the Karan offshore gas field, which is being developed on a fast-track basis to come onstream in 2011. The new onshore facilities are expected to deliver sales gas to meet the growing Saudi demand for gas. In addition, a small percentage of the sales gas will be utilized for the plant fuel and 640 tonnes per day of sulfur will be produced. The facilities would comprise gas processing trains, and would include acid gas removal, dehydration, sulfur recovery, substations and all associated utilities and infrastructure.

"This award further demonstrates the confidence that Saudi Aramco has in the quality of our technical and project execution expertise," said Steve Davies, chairman and chief executive officer, Foster Wheeler Energy Limited. "We are immensely proud of our long and successful track record of delivering upstream and downstream projects for both Saudi Aramco and its joint venture partners. We are fully committed to meeting these same high standards for technical excellence and service for the Karan gas program."

"The Karan project will push economic development and enhance the hydrocarbon resources in the Kingdom by increasing sales gas production capacity in commercial quantities. That gas, estimated at one billion standard cubic feet per day, when linked to the Master Gas System will provide fuel and feedstock to petrochemical industries and will provide jobs for Saudi citizens," commented Ali A. Al-Ajmi, vice president, project management, Saudi Aramco.

Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of engineering, procurement, construction, manufacturing, project development and management, research and plant operation services. Foster Wheeler serves the upstream oil and gas, LNG and gas-to-liquids, refining, petrochemicals, chemicals, power, pharmaceuticals, biotechnology and healthcare industries. The corporation is based in Hamilton, Bermuda, and its operational headquarters are in Clinton, New Jersey, USA. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.

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