PASADENA, Calif., Jan. 19 /PRNewswire-FirstCall/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it received a contract from Hyundai Engineering Co., Ltd. (HEC) to license and design its proprietary SUPERCLAUS® technology for a desulphurization unit at a new gas plant in Turkmenistan. The unit will be integral to the gas plant operated by state-owned Turkmengas, which produces, processes, and exports all gas reserves.
Officials did not disclose the contract or investment values.
South Korea-based HEC will design and build the new gas plant, which is scheduled to be operational in 2012. Gas produced from this plant will be supplied to China. Turkmenistan's natural gas reserves, with estimates ranging from 4 to 14 trillion cubic meters, are the fourth largest in the world.
Jacobs introduced SUPERCLAUS® technology in 1985 and now has over 200 units in operation. The technology nearly eliminates sulphur from the production process, resulting in cleaner fuels with minimal gaseous emissions and lower energy consumption.
In making the announcement, Jacobs Group Vice President Robert Matha stated, "As a leader in desulphurization technology, we are proud to support HEC in providing environmentally friendly, clean fuels."
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.
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SOURCE Jacobs Engineering Group Inc.