Press Release
Jan 10, 2018
DALLAS--(BUSINESS WIRE)-- Jacobs Engineering Group Inc. (NYSE:JEC) has been selected by BP to provide engineering, procurement and construction management (EPCM) services for the Phase 2 of the Khazzan Project in the Sultanate of Oman.
Under the terms of the three-year contract, Jacobs will continue to deliver engineering, procurement and construction management (EPCM) services in support of the project, including the ongoing expansion of the gas gathering system, wellsite facilities and export pipelines.
”We are committed to continuing our relationship with BP through the next development phase of this world-scale gas project,” said Jacobs Petroleum and Chemicals President Vinayak Pai. “Upon completion of the project, this field has the potential to produce gas for Oman for decades to come and simultaneously sets the stage for knowledge transfer and Omanization.”
Khazzan is considered to be one of the biggest tight gas projects in the Middle East and Phase 1 is expected to develop approximately seven trillion standard cubic feet of gas, deliver plateau production of one billion standard cubic feet of gas per day and 25,000 barrels of gas condensate per day.
In September 2017 a significant milestone was reached when Phase 1 of the BP Khazzan Project achieved first gas ahead of schedule. Jacobs delivered engineering, procurement and construction management (EPCM) services for the process and infrastructure work during the first phase of this greenfield project, through its global integrated delivery model, utilizing knowledge from a diverse group of employees, as well as local construction suppliers.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in combined revenue and a talent force more than 74,000 strong, 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.
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.
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Source: Jacobs Engineering Group Inc.
Jacobs Engineering Group Inc.
Kerrie Sparks, 214.583.8433