Jacobs Awarded Pre-FID Study Contract for Baltic Gas Project
February 02 2016 - 7:45AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today it was
awarded a contract to conduct a pre-final investment decision
(Pre-FID) study for the onshore gas treatment plant of the Baltic
Gas Project in the Polish sector of the Baltic Sea for Baltic Gas
Sp. z o.o. i wspólnicy sp. k (“Baltic Gas”). The project is being
undertaken on behalf of Baltic Gas by a partnership established
specifically for the Baltic Gas Project between CalEnergy Resources
Poland Sp. z o.o. (“CalEnergy”) and LOTOS Petrobaltic S.A.
CalEnergy is the operator for the project development phase.
The Baltic Gas Project involves the concurrent development of
the B4 and B6 gas fields via offshore production facilities in the
Baltic Sea; some 110 kilometers of subsea export pipelines to
shore; and an onshore gas treatment plant. The gas is to be
processed through the onshore gas treatment plant to remove LPGs
and condensate and produce sales gas to the required sales
specification.
In conducting the Pre-FID study, Jacobs’ role includes
developing the design for the onshore gas treatment plant and
associated facilities and generating a robust capital cost estimate
based on vendor quotations for high value and long lead items to
underpin the final investment decision during the second half of
2016. The company is utilizing its workshare capabilities to
complete the work, coordinating the project from its Melbourne
office.
Commenting on the contract, Jacobs Petroleum and Chemicals
President Gary Mandel stated, “We are pleased to be involved at an
early and critical stage of this challenging natural gas project.
The Pre-FID study phase is an important step towards achieving a
high level of certainty for the FID approval in second half of
2016. We are excited about the opportunity to leverage our global
capabilities through a workshare arrangement to complete this phase
efficiently and effectively.”
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 2015 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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Jacobs Engineering Group Inc.Robin Shermer, 817-735-6284
Jacobs Engineering (NYSE:JEC)
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