DALLAS, March 22, 2018 /PRNewswire/ -- Jacobs
Engineering Group Inc. (NYSE:JEC) has been awarded a contract for a
pre-feasibility study, with the option of proceeding to a detailed
feasibility study, for Kuwait Petroleum Corporation (KPC) and its
subsidiaries. The studies are in support of KPC's strategic
directions and downstream long term plans for the period up to
2040.
Jacobs will evaluate how domestic refining capacity can be best
expanded, in a cost-effective way, while providing advantaged
feedstocks for integrated petrochemical production. The studies
will cover evaluation and optimization of alternative process
configurations using an integrated Linear Program model, various
technical studies, licensor evaluation, cost estimation, financial
modeling and risk assessment and management, with a focus on
increasing refining capacity and optimum petrochemical
integration.
"As refiners across the industry look to the chemical market for
profit growth, Jacobs leverages its proven, differentiated
capabilities that have helped refiners explore options and define
strategies for optimized refinery-petrochemical integration," said
Jacobs Petroleum and Chemicals President Vinayak Pai. "This new award is an affirmation
of our refining, petrochemicals and Oil-to-Chemicals (OTC)
expertise and perfectly aligns with our strategy to expand services
in the Middle East region."
With more than 40 years operating in the Middle East, Jacobs is planning to increase
its presence in Kuwait, with an
eye on long-term and continued involvement in the country's
upstream, refining and petrochemical industries. Examples of the
company's work in the region include BP Khazzan Oman Gas Field,
Sinnovate Smart Technology Hub, Zuluf Gas/Oil Separation Plant
FEED, King Abdulaziz Project for Riyadh Public Transport, Sadara
Chemical Company, Prince Mohammed bin Abdulaziz International
Airport, Ma'aden Wa'ad Al-Shamal Phosphate Company and numerous
infrastructure projects with the Saudi Industrial Property
Authority (MODON).
Jacobs leads the global professional services sector delivering
solutions for a more connected, sustainable world. With
$15 billion in fiscal 2017 revenue
when combined with full-year CH2M revenues and a talent force of
more than 74,000, Jacobs provides a full spectrum of services
including scientific, technical, professional and construction- and
program-management for business, industrial, commercial, government
and infrastructure sectors. For more information, visit
www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter,
Facebook and Instagram.
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 29, 2017, 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.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
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SOURCE Jacobs Engineering Group Inc.