Press Release
Mar 29, 2018
DALLAS, March 29, 2018 /PRNewswire/ -- Saudi Aramco has awarded Jacobs Engineering Group Inc. (NYSE: JEC) a contract to provide engineering and project management services for the Zuluf Field Development Program's Arab Heavy (AH) Crude Oil Increment 600 MBCD - Onshore Central Processing Facilities (CPF) project, which will provide facilities to process 600,000 barrels of oil per day of Arabian heavy crude oil from the Zuluf offshore field in the Arabian Gulf. This contract is among several oil and gas major project agreements that Saudi Aramco signed in November 2017 to enhance the company's energy sustainability, diversify the economy, expand gas production and localize domestic content.
Jacobs' scope of work includes the onshore central processing facilities which will contain a new gas/oil separation plant (GOSP), gas compression facilities, a new water injection plant and pipelines. The stabilized crude oil from the GOSP will be transported to the Ju'aymah terminal via new downstream pipelines. The separated gas and condensate streams will be transported to the proposed Tanajib Gas Plant via new pipelines.
"This landmark contract reaffirms our strong relationship with Saudi Aramco and our long-standing position in the Middle East," said Jacobs Petroleum and Chemicals President Vinayak Pai. "The Zuluf Field is one of the most significant developments of its kind, and through this project, we will support Saudi Vision 2030 by helping expand gas production and enhancing energy sustainability."
Work on the Zuluf Field Development program commenced in January 2018, with services executed in Calgary, Canada and Al-Khobar, Kingdom of Saudi Arabia. The program demonstrates Jacobs' continued commitment to support the In-Kingdom Total Value Add (IKTVA) program by maximizing locally manufactured oil and gas materials and services in Saudi Arabia. Additionally, an on-the-job training program will be instilled facilitating skill and knowledge transfer in all execution offices.
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.
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SOURCE Jacobs Engineering Group Inc.