Press Release
Feb 28, 2019
DALLAS, Feb. 28, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) has received a contract from Rabigh Refining & Petrochemical Company (Petro Rabigh) to provide FEED and Project Management Consultancy (PMC) services on the company's fuel oil upgrade project – Bottom of the Barrel. Located in Rabigh, Saudi Arabia, Bottom of the Barrel is an upgrade project which converts oil residue streams from the crude distillation process into more profitable products.
In today's market, there is increased demand for transportation fuels, primarily diesel and low-sulfur bunker fuel oil, as well as decreased demand for residual fuel oil. This shift, combined with the lowering sulfur limits worldwide, makes maximizing conversion critical. Jacobs is projected to employ 150 full time employees while delivering pre-front end engineering design, FEED and project management over a two-year period.
"Through this oil upgrade project, we are supporting Petro Rabigh with a unique opportunity in the market to meet growing demands for transportation fuels," said Jacobs Energy, Chemical and Resources Senior Vice President and General Manager EMEA David Zelinski. "The implementation will yield value-added products for use across Saudi Arabia, as well as export to global markets."
Petro Rabigh, a refining and petrochemicals plant on the west coast of Saudi Arabia, is a joint venture between Saudi Aramco and Sumitomo Chemical. The company produces refined products and petrochemicals that are used in end products such as plastics, detergents, lubricants, resins, coolants, anti-freeze, paint, carpets, rope, clothing, shampoo, auto interiors, epoxy glue, insulation, film, fibers, household appliances, packaging, candles, pipes and many other applications.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2018 revenue and a talent force of more than 80,000, 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 fiscal year ended September 28, 2018, 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