Jacobs Receives Design Basis Memorandum Contract from Suncor for New Oil Sands In-Situ Development
Jacobs
Engineering Group Inc. (NYSE:JEC) announced today it was awarded a
contract from Suncor Energy to provide project management and
engineering services to complete the design basis memorandum (DBM) for
its proposed Meadow Creek East facility in northeast Alberta, Canada.
Located 45 kilometers south of Fort McMurray, Meadow Creek is a
steam-assisted gravity drainage (SAGD) oil sands development and is
jointly held by Suncor Energy (as the operator) and Nexen Energy ULC
(non-operated).
The Meadow Creek East program is planned over two phases, with the
anticipated construction of a nominal 40,000 barrels per day central
processing facility replicated in each phase. Jacobs is working with
Suncor to standardize the central processing facility design. The
objective of this replication strategy is to reduce capital costs and
maximize the potential delivery of industry-leading returns.
In making the announcement, Jacobs Group Vice President Tom Quinn
stated, “We are excited to further strengthen our longstanding
relationship with Suncor on the Meadow Creek program, which is expected
to achieve a new industry benchmark in economic performance. The project
will leverage our broad experience in this field as well as innovative
lower cost SAGD solutions into the design basis.”
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 2014 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 2015
Source: Business Wire
(December 15, 2015 - 7:45 AM EST)
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