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Jacobs Receives Contract Extension From Irving Oil

Stocks in this article: JEC

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it received a two year extension with two further five year options to provide maintenance at the Irving Oil Refinery in Saint John, New Brunswick, Canada.

Officials did not disclose the contract value, but noted that Jacobs has been providing ongoing maintenance services at the facility since 1991, delivering day-to-day maintenance, turnaround and small capital construction services.

Under the terms of the new contract, in addition to continuing the services provided in the previous scope of work, Jacobs is supplying and erecting scaffold materials and providing fabrication services from its Saint John, New Brunswick fabrication facility.

Irving Oil operates Canada's largest refinery, serving wholesale, commercial and retail customers throughout Eastern Canada and the Northeastern U.S.

In making the announcement, Jacobs Group Vice President Greg Rumford stated, “Our 20-year partnership with this client has resulted in a number of successes including significant milestones in safety. We are pleased to continue to support Irving Oil and extend our services to help them meet their long-term facility goals.”

Mark Sherman, General Manager of the Irving Oil Refinery, commented, “We look forward to continuing our long-standing relationship with Jacobs. We treat safety as a core value at Irving Oil and it’s a value shared by our partners on-site. Together, we strive to provide a best-in-class health and safety environment for all of our team members.”

Jacobs provides maintenance and construction services globally, employing more than 15,000 craft professionals in 25 countries.

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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