Jacobs Awarded Gas Storage Facility Renovation Project by Storengy

Jan 05, 2010, 07:45 ET from Jacobs Engineering Group Inc.

PASADENA, Calif., Jan. 5 /PRNewswire-FirstCall/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it received a contract from Storengy to provide engineering, procurement, and construction management (EPCM) services to upgrade an underground gas-storage facility in Cere-la-Ronde, France.

Officials did not disclose the contract value.

This renovation project is expected to increase storage capacity at the Cere-la-Ronde site up to 1,200 million cubic meters as well as reduce the facility's impacts to the environment. Jacobs will design and install new gas compression, double the gas treatment facilities, and upgrade the control system and utilities. The project is scheduled to be implemented over the next two years. Jacobs has been supporting Storengy's investment of developing storage sites since 2006 as owner's engineer.

Storengy is the GDF SUEZ company that is dedicated to the underground storage of natural gas. The company is in charge of all natural gas storage activities in France (Storengy France), Great Britain (Storengy UK), and Germany (Storengy Deutschland). Storengy is the second-largest natural gas storage operator in Europe, with working capacity of approximately 400 billion cubic feet.

In making the announcement, Jacobs Group Vice President Robert Matha stated, "We are happy to be working on this project, which helps Storengy to meet energy demand in Europe and expands our relationship with Storengy and GDF SUEZ Group."

Jacobs 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 2009 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.

    For additional information contact:
           Michelle Jones

(Logo: http://www.newscom.com/cgi-bin/prnh/20090109/JACOBSEGLOGO)

SOURCE Jacobs Engineering Group Inc.