Jacobs Receives Contract from BP in Scotland
October 08 2013 - 7:45AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it
was awarded a contract from BP Exploration Operating Company Ltd.
to support its intervention project at the Sullom Voe Terminal,
Shetland Island, Scotland.
BP officials estimate the total installed cost for the project
to be up to $200 million over four years.
Under the terms of the contract, Jacobs is providing project
management, engineering and construction for extensive fabric
maintenance works, tankage and process unit turnarounds; plus
additional projects focused on improving the condition and
reliability of the terminal in anticipation of increased production
demand that is expected to result from field development in the
West of Shetland area.
Jacobs Group Vice President Bob Irvin stated, “We are delighted
to be working in close collaboration with BP on this significant
project to help drive increased performance at the Sullom Voe
Terminal. We look forward to using our local and global terminal
experience to deliver the planned improvements to the
terminal.”
One of the largest oil and gas terminals in Europe, BP’s Sullom
Voe Terminal is entirely self-sufficient and handles oil and gas
from more than 30 surrounding fields. The terminal’s dedicated
processing, storage and loading facilities handle oil from mature
and continually emerging offshore fields from both the East and,
more recently, West of Shetland.
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.
Jacobs Engineering Group Inc.Michelle Jones, 626.578.6968
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