Jacobs
Engineering Group Inc. (NYSE:JEC) announced today it was awarded a
contract to conduct a pre-final investment decision (Pre-FID) study for
the onshore gas treatment plant of the Baltic Gas Project in the Polish
sector of the Baltic Sea for Baltic Gas Sp. z o.o. i wspólnicy sp. k
(“Baltic Gas”). The project is being undertaken on behalf of Baltic Gas
by a partnership established specifically for the Baltic Gas Project
between CalEnergy Resources Poland Sp. z o.o. (“CalEnergy”) and LOTOS
Petrobaltic S.A. CalEnergy is the operator for the project development
phase.
The Baltic Gas Project involves the concurrent development of the B4 and
B6 gas fields via offshore production facilities in the Baltic Sea; some
110 kilometers of subsea export pipelines to shore; and an onshore gas
treatment plant. The gas is to be processed through the onshore gas
treatment plant to remove LPGs and condensate and produce sales gas to
the required sales specification.
In conducting the Pre-FID study, Jacobs’ role includes developing the
design for the onshore gas treatment plant and associated facilities and
generating a robust capital cost estimate based on vendor quotations for
high value and long lead items to underpin the final investment decision
during the second half of 2016. The company is utilizing its workshare
capabilities to complete the work, coordinating the project from its
Melbourne office.
Commenting on the contract, Jacobs Petroleum and Chemicals President
Gary Mandel stated, “We are pleased to be involved at an early and
critical stage of this challenging natural gas project. The Pre-FID
study phase is an important step towards achieving a high level of
certainty for the FID approval in second half of 2016. We are excited
about the opportunity to leverage our global capabilities through a
workshare arrangement to complete this phase efficiently and
effectively.”
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 2015 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.
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Copyright Business Wire 2016
Source: Business Wire
(February 2, 2016 - 7:45 AM EST)
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