Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has received a contract from Apache Khalda Corporation for the provision of project management consultancy (PMC) services to oversee the front-end engineering design (FEED) for the Qasr Compression Project in Egypt.The Qasr Compression Project will provide additional compression to the existing facilities at the Qasr gas condensate field, in the Western Desert, approximately 525km west of Cairo.

The Foster Wheeler contract value for this project was not disclosed and will be included in the company's third-quarter 2011 bookings.

Foster Wheeler will provide expertise and personnel to assist Apache Khalda in the management and administration of the FEED phase of the project. The FEED is expected to be completed at the end of 2011.

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 12,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company's Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, mining and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company's Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at http://www.fwc.com.