Jacobs Receives Contract From Shell In Australia

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it has been selected by the Shell Company of Australia Ltd. for its Clyde Terminal Conversion Project in Sydney, Australia.

Officials did not disclose the contract value, but noted that the work is being performed from Jacobs’ Australian operations in Melbourne and Sydney.

Under the terms of the contract, Jacobs is initially providing a Basic Design and Engineering Package (BDEP) to convert the Clyde Refinery and associated satellite Gore Bay Terminal into a competitive product import terminal. Subject to subsequent approval, Jacobs is also expected to provide Engineering, Procurement and Construction Management (EPCm) services in the delivery phase of the project.

In making the announcement, Jacobs Group Vice President Tom Quinn stated, “We are delighted to bring our local and global terminal experience to this critical project. This contract continues our relationship with Shell in Australia, where we have successfully implemented clean fuels upgrades at Shell’s Geelong and Clyde refineries.”

The Clyde Terminal Conversion Project involves extensive upgrades, refurbishment and re-use of the existing crude and product tankage that supplies truck loading and pipeline operations helping to service Sydney airport and Shell’s distribution of fuels into the New South Wales market from Parramatta Terminal.

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.

Copyright Business Wire 2010

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