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Jacobs Receives Contract from North Atlantic Refining Limited

January 4, 2011

PASADENA, Calif., Jan. 4, 2011 /PRNewswire/ — Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it received a three year contract from North Atlantic Refining Limited for the provision of Turnaround and Small Capital Work services at the company’s Refinery in Newfoundland, Canada.

Officials did not disclose the contract value.

Under the terms of the contract, Jacobs will provide turnaround planning and execution, including pre-planning and post turnaround activities, as well as delivery of small capital works at the site.

In making this announcement, Jacobs Group Vice President Chip Mitchell stated, “We are pleased to expand our services in Atlantic Canada. This is both an opportunity for us to build a long term relationship with North Atlantic Refining Limited and to demonstrate our commitment to a long term presence in Newfoundland.”

North Atlantic is a wholly owned subsidiary of Harvest Operations Corp, (Harvest). Harvest, wholly-owned by the Korea National Oil Corporation, is a significant operator in Canada’s energy industry offering exposure to an integrated structure with upstream (exploration, development and production of crude oil and natural gas) and downstream (refining and marketing of distillate, gasoline and fuel oil) segments.

Jacobs is one of the world’s largest and most diverse providers of technical, professional, and construction services.

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 2010 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.

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    For additional information contact:
         Michelle Jones
         626.578.6968

SOURCE Jacobs Engineering Group Inc.


Source: newswire



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