Jacobs Receives Contract from Nexen
August 06 2013 - 7:45AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it
received a three-year contract from Nexen Energy ULC for
engineering and procurement services for the Long Lake oil sands
facility. Long Lake is an integrated Steam Assisted Gravity
Drainage (SAGD) and upgrading operation that uses a proprietary
OrCrude™ technology as well as hydrocracking and gasification to
produce Premium Synthetic Crude (PSC™) oil. The Long Lake site is
located approximately 40 km southeast of Fort McMurray, Alberta,
Canada.
Officials did not disclose the contract value.
Jacobs is delivering a portfolio of capital projects, the
outcome of which is expected to make improvements to sustain
capacity and improve efficiency at the facility. The scope of
Jacobs’ portfolio includes all phases of engineering and
procurement services in order to meet the facility’s production
goals.
In making the announcement, Jacobs Group Vice President Mike
Coyle stated, “We are delighted to expand on our relationship with
Nexen at the Long Lake site and provide them with engineering and
procurement services. Our strength in Sustaining Capital project
delivery combined with our team’s proven performance in SAGD
technology supports Nexen in the growth of their oil sands
facilities.”
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 2012 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.
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