Jacobs Receives Contract from Chevron in South Africa
Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it has been awarded a multi-year contract from Chevron South Africa to provide Engineering, Procurement and Construction Management services (EPCM) as well as loaned personnel. This contract replaces the previous contract that has been in place since 2004.
Company officials did not disclose the contract value.
Under the terms of the contract, Jacobs is continuing to provide personnel to the Chevron Cape Town Refinery. In addition, Chevron South Africa gains access to the worldwide network of Jacobs offices to provide EPCM services, led by Jacobs’ Cape Town operations. As part of the contract, Jacobs is supporting Chevron in its goal to improve its capital project performance, monitored by a multi-year performance improvement plan.
In making the announcement, Jacobs Group Vice President Mark Bello stated, “We are very pleased to continue our long history of supporting the Cape Town Refinery through this new professional services Master Agreement. We look forward to working with Chevron toward achieving a safe, reliable and profitable operation.”
Jacobs is one of the world’s largest and most diverse providers of technical professional and construction services. In South Africa, Jacobs operates as Jacobs Matasis (Pty) Ltd., a company jointly owned by Jacobs Engineering Group and Matasis Investment Holdings.
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 2013 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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