Jacobs Awarded Contract From QGC

Jacobs Engineering Group Inc. (NYSE:JEC) announced today it has been awarded a contract from QGC, part of BG Group plc (LSE: BG.L), a world leader in natural gas. QGC is one of the major proponents in the rapidly developing coal seam gas (CSG) to liquefied natural gas (LNG) industry in Australia.

Officials did not disclose the contract value, but noted that the services are being provided from Jacobs’ Brisbane, Australia and Denver, Colo., U.S. offices, enabling QGC to leverage the substantial experience that Jacobs has gained in the U.S. CSG market.

Under the terms of the contract, Jacobs is performing concept study and pre-FEED (front-end engineering and design) activities to support further development of the upstream portion of the project. Jacobs’ scope of work includes the production well pads that produce and separate gas and water; the gathering systems that transport the produced fluids; and the field compressor stations that form part of the transport system carrying the produced gas to the LNG production facilities.

These facilities are designed to connect into the existing infrastructure that transports the CSG to QGC’s LNG plant located on Curtis Island, near Gladstone in Queensland. The Queensland Curtis LNG project is anticipated to be the world's first project to convert CSG into LNG, and to provide cleaner hydrocarbon energy for export markets from 2014.

Jacobs’ Group Vice President Tom Quinn stated, "We are very pleased to be working again with QGC, and to be a part of one of Australia's largest capital infrastructure projects. We look forward to combining our global CSG experience with our Australian project delivery capability to support QGC in achieving their strategic objectives for this critical project."

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 2013 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.

If you liked this article you might like

Three Stocks Poised to Rally Off Double Moving Average Support

The Hype of Infrastructure Spending is Over; Now it's 'Show Me the Money'

12 Years and Still Finding the Bulls for You: Cramer's 'Mad Money' Recap (Tuesday 3/14/17)

Cisco Systems, CyberArk, Check Point Software: 'Mad Money' Lightning Round