Agreement boosts Jacobs’ presence in Canada’s midstream industry
DALLAS–(BUSINESS WIRE)–Jacobs Engineering Group Inc. (NYSE:JEC) has signed an engineering services agreement with Keyera Partnership (TSX:KEY), which operates one of the largest independent midstream energy companies in Canada. The company services oil and gas producers in Western Canada and transports natural gas liquids such as propane, ethane, butane, condensate and iso-octane to markets throughout North America.
The new agreement enables Jacobs to provide engineering services for the Wapiti Liquids Handling & Gas Processing Facility, a key part of Keyera’s Wapiti Development project for constructing a natural gas gathering and processing complex in the Wapiti area south of Grand Prairie, Alberta.
At full build-out of both phases of the project, the new facility is expected to process up to 300 million cubic feet of sour gas and 25,000 barrels of field condensate per day. Keyera is also looking at the possibility of connecting the new complex to its existing Montney asset base and network, further diversifying its service offering in the region.
“This agreement marks a significant milestone for Jacobs to leverage our presence in the midstream industry in Canada, and increase our market share and potential for growth in this sector,” said Jacobs Senior Vice President, Oil & Gas, Bassim Shebaro. “Understanding Keyera’s already impressive gas gathering and processing business, this contract could be the start of a mutually beneficial long-term relationship.”
Jacobs will support this deal from its Calgary office, which represents the company’s center of excellence in North America for natural gas liquids, gas treating and processing and sulfur solutions, delivering innovation and value for our upstream and midstream clients.
Jacobs is one of the world’s largest and most diverse providers of full-spectrum technical, professional and construction services for industrial, commercial and government organizations globally. The company employs 54,000 people and operates in more than 25 countries around the world.
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 of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 30, 2016, 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 do not undertake to update any forward-looking statements made herein.
Jacobs Engineering Group Inc.
Salim Rahimi, 214.583.8428