Foster Wheeler Awarded Spanish Delayed Coker Contract By BP.

HAMILTON, Bermuda -- Foster Wheeler Ltd. (Nasdaq: FWLT) today announced that its subsidiary Foster Wheeler Iberia, S.A., part of its Global Engineering and Construction Group, has been awarded a detailed engineering, procurement and construction supervision contract by BP Oil Refineria de Castellon, S.A. (BP) for a new delayed coker at BP's Castellon Refinery in Spain.

The terms of the award were not disclosed. The project was included in the company's second-quarter bookings for 2006.

The 20,000 barrels per stream day coker will use Foster Wheeler's Selective Yield Delayed Coking (SYDEC(SM)) technology. This award follows the completion of the process design package by Foster Wheeler's coking center of excellence in Houston, and the front-end engineering design, which was undertaken by the company's Madrid operation. The new delayed coker, scheduled for completion during 2008, is part of BP's planned reconfiguration of the Castellon refinery to reduce residual fuel oil production.

"This award reflects the successful and long-standing working relationship between BP's Castellon refinery and Foster Wheeler Iberia," said Jesus Cadenas, General Manager of Foster Wheeler Iberia. "We are also very pleased that BP has selected Foster Wheeler's technology and project execution expertise for its European delayed coker."

Foster Wheeler's SYDEC(SM) process is a thermal conversion process used by refiners worldwide to upgrade heavy residue feed and process it into high value transport fuels. The SYDEC(SM) process achieves maximum clean liquid yields and minimum fuel coke yields from high sulfur residues. By installing a SYDEC(SM) unit, a refinery owner is able to process heavier crudes, which sell at a discount to the benchmark light, sweet crudes, thereby allowing the owner to reap the benefit of increased refining margins.

Foster Wheeler is a market leader in delayed coking and has supplied the coking process technology for more than 50 delayed coking plants worldwide.

Notes to Editors:

1. 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 refining, upstream oil and gas, LNG and gas-to-liquids, 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, visit our Web site at http://www.fwc.com.

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