September 23, 2008

Jacobs Receives Contract From Neste Oil to Support New Generation Renewable Diesel Plant in Singapore

PASADENA, Calif., Sept. 23 /PRNewswire-FirstCall/ -- Jacobs Engineering Group Inc. announced today that it had been awarded a contract by Neste Oil Singapore (Neste) to provide engineering, procurement, and construction management services for Neste's Tuas Power Scope Project, which will support the "NExBTL Singapore" renewable diesel facility that is currently being developed at Tuas, Singapore.

Officials did not disclose the contract value.

The NExBTL renewable diesel plant, which is estimated to cost Euros 550 million, is designed for 800,000 tons per year NExBTL capacity. It will be the world's largest "new generation" renewable diesel manufacturing plant and uses Neste's proprietary technology. Under a separate contract Jacobs is providing detailed design services for the offplots portion and is also responsible for permitting scope for the overall facility.

The Power Scope Project is intended to deliver utilities to the renewable diesel facility from the adjacent Tuas power plant. Jacobs has already performed the engineering for this project's preliminary design package and developed a control estimate. Jacobs will execute the work from its office in Singapore.

In making the announcement, Jacobs Group Vice President Chris Nagel said, "This new contract demonstrates Neste Oil's confidence in the services we delivered so far on this milestone project. We are delighted to continue to support the facility's development and to help Neste Oil achieve its market goals."

Jacobs, with over 56,000 employees and revenues exceeding $10.0 billion, provides technical, professional, and construction services globally.

Any statements made in this release that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in 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 2007 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 also caution the readers of this release that we do not undertake to update any forward-looking statements made herein.

    For additional information contact:    Michelle Jones    626.578.6968    (Logo:  

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Jacobs Engineering Group Inc.

CONTACT: Michelle Jones of Jacobs Engineering Group Inc.,+1-626-578-6968

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