Jacobs Joint Venture Receives Letter of Intent from Oil Search for Facilities in Papua New Guinea
February 20 2017 - 7:45AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC), in a joint venture
with Monadelphous Group Limited has received a letter of intent
from Oil Search Limited to enter into a new proposed five year
contract to provide engineering, procurement and construction (EPC)
services for oil and gas production facilities in the Highlands of
Papua New Guinea (PNG).
The joint venture is expected to provide a wide range of
brownfield project services, including engineering, procurement,
civil, mechanical and electrical works on pipelines, utilities,
facilities and supporting infrastructure.
“We expect to contribute significant value to this strategically
important project by leveraging our previous experience in
providing engineering services to Oil Search in Papua New Guinea,”
said Jacobs Senior Vice President Andrew Berryman. “In particular,
we recognize a key focus is to increase the efficiency of Oil
Search’s brownfield project program through optimised
constructability input during the design phase.”
Monadelphous Group Limited (ASX: MND) is a leading Australian
engineering group providing construction, maintenance and
industrial services to the resources, energy and infrastructure
sectors. For further information, visit
www.monadelphous.com.au.
Jacobs is one of the world’s largest and most diverse providers
of full-spectrum technical, professional and construction services
for industrial, commercial and government organizations globally.
The company employs 54,000 people and operates in more than 25
countries around the world. For more information, visit
www.jacobs.com.
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 Form 10-K for the year ended September 30,
2016, 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.Salim Rahimi, 214.583.8428
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