Jacobs Receives Contracts for Alberta Oil Sands Projects

abarrelfullabarrelfull wrote on 12 Oct 2011 05:27
Tags: canada jacobs tar-sands

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Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it received new contracts in the fourth quarter of fiscal 2011 from seven clients in the Alberta Oil Sands to support steam assisted gravity drainage (SAGD) and bitumen upgrading expansion projects.

Officials estimate the combined total construction value of the awarded projects at more than $1.4 billion.

Project scopes include engineering procurement and construction (EPC), front end engineering and design (FEED), fabrication and construction management (CM) on a variety of mid- and large-cap projects. The construction values on each project range in value from $15 to more than $650 million. Due to the competitive nature of the projects and strict client confidentiality, Jacobs is unable to provide specific details about the projects.

Jacobs, who has had a prominent, long term presence in the Alberta Oil Sands, is leveraging the industry leading in-situ heavy oil recovery and upgrading expertise of its offices in Calgary and Edmonton in Alberta, Canada.

In making the announcement, Jacobs Group Vice President Chip Mitchell stated, "The Alberta Oil Sands are a very important component of our business. Jacobs has a strong history in the area, and we are pleased to support our clients in these initiatives."

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