Jacobs Engineering Group Inc.

Jacobs Engineering Group Inc.

September 13, 2005 07:45 ET

Jacobs Receives Crude Unit Revamp Contract from Flint Hills Resources

HOUSTON--(CCNMatthews - Sep 13, 2005) -

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it is providing front-end engineering for Flint Hills Resources' proposed crude unit revamp project in Rosemount, Minn.

Officials estimate the overall project value at $125 million, with completion scheduled for the second quarter of 2007 pending environmental permit approvals.

The project aims to increase the unit's capacity to process heavy crude, providing greater operational flexibility for the refinery while improving overall economics.

In making the announcement, Jacobs Group Vice President Peter Evans stated, "We are thrilled about our continued participation in Flint Hills Resources' expansion in Minnesota. This is the third assignment in four years at Flint Hills Resources' Pine Bend refinery, on projects totaling over $400 million in capital to date."

Flint Hills Resources is a leading producer of fuels, base oils for lubricants, and other petrochemical products based in Wichita, Kan. It owns refineries in Alaska, Minnesota, and Texas as well as a chemical facility near Joliet, Ill., and an interest in Excel Paralubes near Lake Charles, La.

Jacobs, with over 35,000 employees and revenues exceeding $5.0 billion, provides technical, professional, and construction services globally.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management's best judgement as to what may occur in the future. However, Jacobs' actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Forward-Looking Statements" included in Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations contained in the Company's 2004 Annual Report on Form 10-K.

Contact Information

  • Jacobs Engineering Group Inc.
    Rod Sharp, 626-578-6992