DALLAS, July 9, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) was selected by the U.S. Department of State Bureau of Overseas Buildings Operations (OBO) to provide commissioning services. This is Jacobs' second consecutive commissioning services contract with OBO, which is responsible for U.S. diplomatic missions, including embassies and consulates.
OBO estimates the five-year contract at $25 million, with a base year and four option years of $5 million each. Commissioning services will help OBO understand building system requirements and improve system performance using engineering and construction expertise. In addition to reducing the total cost of ownership and resolving issues early, commissioning services increase energy efficiency, and is a pre-requisite to the U.S. Green Building Council's LEED certification.
"Efficiently operating U.S. Department of State embassies, consulates and missions around the world shows appreciation for host countries and their resources," said Jacobs Buildings, Infrastructure and Advanced Facilities Senior Vice President and General Manager for U.S. Federal Solutions Pankaj Duggal. "We welcome this opportunity to 'green' these important properties and demonstrate our own commitment to sustainable initiatives in the architectural and engineering industry."
Jacobs leads the global professional services sector providing solutions for a more connected, sustainable world. With approximately $12 billion in revenue and a talent force of more than 50,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. 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 additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended March 29, 2019, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the Company's other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
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