Jacobs Engineering Group Inc. (NYSE: JEC) announced today it received a contract from PETRONAS, the state-owned oil company of Malaysia, to develop a basic engineering package for three sulfur recovery units (SRUs).
Officials did not disclose the contract value, however noted the basic engineering services are being provided from Jacobs’ Leiden office in The Netherlands.
Jacobs is licensing its proprietary SUPERCLAUS® technology to PETRONAS for the SRU project. Jacobs introduced the SUPERCLAUS technology in 1985; there are now over 200 licensed units in operation worldwide. The technology offers a number of highly valued performance features in areas such as reliability, sulfur recovery levels, sulfur emissions reduction and simple continuous operation. PETRONAS’ new, three-train sulfur plant is part of the Refinery and Petrochemical Integrated Development (RAPID) Project site in the state of Johor, Malaysia.
Through RAPID, PETRONAS is establishing an optimally configured, integrated refinery and petrochemical complex that focuses on production of high, value-added petrochemicals. This involves building a refinery to supply naphtha and to produce gasoline and diesel that meet European clean fuels specifications. The petrochemical complex is designed and developed to produce ethylene and olefins that are used in downstream plants to produce petrochemical derivatives.Jacobs Group Vice President Robert Matha stated, "We are very pleased to work again with PETRONAS and to provide our technology in support of its goals for long-term growth.” Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services. 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 2011 Form 10-K, 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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