Jacobs Joint Venture Receives Letter of Intent from Oil Search for Facilities in Papua New Guinea

DALLAS--(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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170220005264/en/

Source: Jacobs Engineering Group Inc

Jacobs Engineering Group Inc.



Salim Rahimi, 214.583.8428