Jacobs Receives Design Basis Memorandum Contract from Suncor for New Oil Sands In-Situ Development
December 15 2015 - 7:45AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today it was
awarded a contract from Suncor Energy to provide project management
and engineering services to complete the design basis memorandum
(DBM) for its proposed Meadow Creek East facility in northeast
Alberta, Canada.
Located 45 kilometers south of Fort McMurray, Meadow Creek is a
steam-assisted gravity drainage (SAGD) oil sands development and is
jointly held by Suncor Energy (as the operator) and Nexen Energy
ULC (non-operated).
The Meadow Creek East program is planned over two phases, with
the anticipated construction of a nominal 40,000 barrels per day
central processing facility replicated in each phase. Jacobs is
working with Suncor to standardize the central processing facility
design. The objective of this replication strategy is to reduce
capital costs and maximize the potential delivery of
industry-leading returns.
In making the announcement, Jacobs Group Vice President Tom
Quinn stated, “We are excited to further strengthen our
longstanding relationship with Suncor on the Meadow Creek program,
which is expected to achieve a new industry benchmark in economic
performance. The project will leverage our broad experience in this
field as well as innovative lower cost SAGD solutions into the
design basis.”
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 2014 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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version on businesswire.com: http://www.businesswire.com/news/home/20151215005078/en/
for Jacobs Engineering Group Inc.Robin Shermer, 817-735-6284
Jacobs Engineering (NYSE:JEC)
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