Jacobs Receives Contract From Indian Oil Corporation Ltd. for Paradip Refinery

Tue Jul 14, 2009 7:45am EDT
 
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PASADENA, Calif., July 14 /PRNewswire-FirstCall/ -- Jacobs Engineering Group
Inc. (NYSE: JEC) announced today that it received a contract from Indian Oil
Corporation Ltd. (IOCL) to provide project management consultancy (PMC)
services for a delayed coker unit (DCU) at its Paradip refinery in the State
of Orissa. IOCL's Paradip refinery is a 15 MMTPA facility. 

Officials did not disclose the contract value. The total installed cost of a
DCU is estimated at US $350 million. 

Jacobs will perform front-end engineering and design services, and supervise
the resulting lump sum turnkey (LSTK) contractors whose work includes the
installation of a 4.1 MMTPA DCU with associated facilities at IOCL's Paradip
refinery.

In making the announcement, Jacobs Group Vice President Chris Nagel stated,
"We are delighted to continue working with IOCL to ensure that its facilities
continue to meet customers' expectations for high-quality products." 

Indian Oil Corporation Ltd. is currently India's largest company by sales with
a turnover of US $60 billion. Indian Oil is also the highest ranked Indian
company in the prestigious Fortune 'Global 500' listing. 

Jacobs, with annual revenues exceeding $12 billion, is one of the world's
largest and most diverse providers of technical, professional, and
construction services.

Any statements made in this release that are not based on historical fact are
forward-looking statements.  Although such statements are based on
management's current estimates and expectations, and currently available
competitive, financial, and economic data, forward-looking statements are
inherently uncertain.  We, therefore, caution the reader that there are a
variety of factors that could cause business conditions and results to differ
materially from what is contained in 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 2008
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
also caution the readers of this release that we do not undertake to update
any forward-looking statements made herein.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20090109/JACOBSEGLOGO)
    For additional information, contact:
         Michelle Jones
         626.578.6968




SOURCE  Jacobs Engineering Group Inc.

Michelle Jones of Jacobs Engineering Group Inc., +1-626-578-6968

 

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