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 February 2, 2016 - 7:45 AM EST
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Jacobs Awarded Pre-FID Study Contract for Baltic Gas Project

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.

Jacobs Engineering Group Inc.
Robin Shermer, 817-735-6284

Source: Business Wire (February 2, 2016 - 7:45 AM EST)

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