PASADENA, Calif., Oct. 11, 2011 /PRNewswire/ -- Jacobs Engineering
Group Inc. (NYSE: JEC) announced today that it received new
contracts in the fourth quarter of fiscal 2011 from seven clients
in the Alberta Oil Sands to support steam assisted gravity drainage
(SAGD) and bitumen upgrading expansion projects.
Officials estimate the combined total construction value of the
awarded projects at more than $1.4
billion.
Project scopes include engineering procurement and construction
(EPC), front end engineering and design (FEED), fabrication and
construction management (CM) on a variety of mid- and large-cap
projects. The construction values on each project range in value
from $15 to more than $650 million. Due to the competitive nature of
the projects and strict client confidentiality, Jacobs is unable to
provide specific details about the projects.
Jacobs, who has had a prominent, long term presence in the
Alberta Oil Sands, is leveraging the industry leading in-situ heavy
oil recovery and upgrading expertise of its offices in Calgary and Edmonton in Alberta,
Canada.
In making the announcement, Jacobs Group Vice President
Chip Mitchell stated, "The Alberta
Oil Sands are a very important component of our business. Jacobs
has a strong history in the area, and we are pleased to support our
clients in these initiatives."
Jacobs is one of the world's largest and most diverse providers
of technical, professional, and construction services.
Statements made in this release that are not based on historical
fact are forward-looking statements. We base these forward-looking
statements on management's current estimates and expectations as
well as currently available competitive, financial and economic
data. Forward-looking statements, however, are inherently
uncertain. There are a variety of factors that could cause business
results to differ materially from our forward-looking statements.
For a description of some of the factors which may occur that could
cause actual results to differ from our forward-looking statements
please refer to our 2010 Form 10-K, and in particular the
discussions contained under Items 1 - Business, 1A - Risk Factors,
3 - Legal Proceedings, and 7 - Management's Discussion and Analysis
of Financial Condition and Results of Operations. We do not
undertake to update any forward-looking statements made herein.
For additional information contact:
Michelle Jones
626.578.6968
(Logo:
http://photos.prnewswire.com/prnh/20110628/LA26838LOGO)
SOURCE Jacobs Engineering Group Inc.