Jacobs Receives Contract For Panipat From Indian Oil Corporation Limited

abarrelfullabarrelfull wrote on 20 Feb 2015 13:28

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Feb. 20th 2007

Jacobs Engineering Group Inc. (NYSE: JEC) announced today that a subsidiary company received a contract from Indian Oil Corporation Limited (IOCL) to provide project management consultancy services for a 400,000 tons per year Motor Spirit Quality (MSQ) project at its Panipat Refinery in the state of Haryana, India.

With a total investment cost of approximately $130 million, the project will enable the refinery to produce gasoline conforming to the latest European Union norms.

For the MSQ upgrading project, Jacobs will perform front-end engineering, process design, construction management, procurement, and start-up support. IOCL selected UOP LLC as licensor for the plant's isomerisation complex and Axens as licensor for the reformate splitter section.

IOCL is India's largest petroleum refiner and marketer, with annual revenues of over $41 billion, and is ranked as a Fortune 'Global 500' company. IOCL owns and operates ten refineries in India with a total capacity of over one million barrels per stream day (BPSD). The company is aggressively expanding several strategic capacities at these sites.

In making the announcement, Jacobs Group Vice President Walt Barber stated, "We are excited to work with IOCL to execute this very challenging project. Jacobs is committed to delivering a state-of-the-art facility that will produce high value returns."

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