Jacobs Awarded Contract by BP Supporting Development of Khazzan Gas Project
March 04 2014 - 7:45AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it
was awarded a contract by BP for process and infrastructure work on
the greenfield Khazzan project in the Sultanate of Oman.
Under the terms of the contract, Jacobs is providing
engineering, procurement and construction management services in
relation to approximately $2 billion of gas gathering and water
pipelines, wellhead production facilities and export pipelines for
the development of the southern sector of Block 61. Jacobs’ scope
of work also includes the detailed design and program management
for the associated project infrastructure.
The work utilizes resources from multiple Jacobs offices located
in the Middle East, U.K., India and the U.S.; and Jacobs is also
committed to supporting the In Country Value goals of the Sultanate
of Oman to build local content by developing the local workforce
and engaging local suppliers. The project is expected to mobilize
immediately.
Jacobs Group Vice President Conor Doyle stated, “We are
delighted to be working with the Sultanate of Oman and BP on this
major new upstream project in Oman. We see tremendous opportunities
to leverage our technical experience in tight gas projects with our
infrastructure capability in the region, and are pleased to support
this pioneering development.”
In December 2013, the Government of the Sultanate of Oman and BP
announced a gas sales agreement and an amended production sharing
agreement for the development of the Khazzan field, with BP as
operator. The Khazzan project represents the first phase in the
development of one of the Middle East region’s largest
unconventional tight gas accumulations.
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 2013 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
Jacobs Engineering (NYSE:JEC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Jacobs Engineering (NYSE:JEC)
Historical Stock Chart
From Jul 2023 to Jul 2024