Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it has been awarded a contract from Santos GLNG Project in Australia to provide support for its coal seam gas field development.
Officials did not disclose the contract value but noted that the duration of the contract is three and a half years, with a one-year extension option.
The Santos GLNG Project is a multi-billion dollar coal seam gas to LNG development in Queensland, Australia. The development is being undertaken by GLNG Operations, a joint venture between Santos, one of Australia’s largest domestic gas producers; and three of the world’s largest energy companies; PETRONAS, Total, and KOGAS.
As an integrated member of Santos GLNG’s team, Jacobs is providing commissioning and start up management support for the transition of facilities into sustainable operations, with a focus on meeting community and environmental requirements.In making the announcement, Jacobs Group Vice President Tom Quinn stated, “We are very pleased to be providing support for this important phase of the Santos GLNG Project. We look forward to continuing our long and successful relationships with Santos and Total, and to developing longer-term relationships with PETRONAS and KOGAS.” 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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