Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it received a three-year contract from Nexen Energy ULC for engineering and procurement services for the Long Lake oil sands facility. Long Lake is an integrated Steam Assisted Gravity Drainage (SAGD) and upgrading operation that uses a proprietary OrCrude™ technology as well as hydrocracking and gasification to produce Premium Synthetic Crude (PSC™) oil. The Long Lake site is located approximately 40 km southeast of Fort McMurray, Alberta, Canada.
Officials did not disclose the contract value.
Jacobs is delivering a portfolio of capital projects, the outcome of which is expected to make improvements to sustain capacity and improve efficiency at the facility. The scope of Jacobs’ portfolio includes all phases of engineering and procurement services in order to meet the facility’s production goals.
In making the announcement, Jacobs Group Vice President Mike Coyle stated, “We are delighted to expand on our relationship with Nexen at the Long Lake site and provide them with engineering and procurement services. Our strength in Sustaining Capital project delivery combined with our team’s proven performance in SAGD technology supports Nexen in the growth of their oil sands facilities.”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 2012 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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