Construction and engineering company
Jacobs Engineering Group Inc.
) has recently secured two contracts. The company won a contract
from BP Exploration Operating Company Ltd., the holding entity
for several of the exploration and production subsidiaries of
). The contract is related to BP Exploration's intervention
project at the Sullom Voe Terminal, Scotland. The four-year
project has an estimated installed value of $200.0 million.
The intervention project aims to develop the reliability of
the terminal in view of the increased production demand in the
West of Shetland area. Europe-based Sullom Voe terminal handles
oil and gas from roughly 30 surrounding fields. Per the contract,
Jacobs will provide tankage and process unit turnarounds, project
management, engineering and construction for extensive fabric
Jacob intends to use its terminal management experience in
local as well as global arena to execute the contract.
On the same day, Jacobs won another contract from NASA's
Langley Research Center in Hampton, Virginia. The Center
Maintenance, Operations, and Engineering contract comprises
sustaining services as well as an Indefinite Delivery/Indefinite
Quantity (IDIQ) component. The $742.0 million contract spans a
maximum of 10 years.
Under the contract, Jacobs will facilitate central utilities
operations, research and institutional maintenance, research
facility operations, technology development/administration and
Continuous contract wins by Jacobs raises our faith about a
relatively stable future with a steady revenue stream. Jacobs
currently carries a Zacks Rank #2 (Buy). Other stocks worth a
watch in the industry include
Foster Wheeler AG
Quanta Services, Inc.
). Both the companies carry a Zacks Rank #2.
BP PLC (BP): Free Stock Analysis Report
FOSTER WHELR AG (FWLT): Free Stock Analysis
JACOBS ENGIN GR (JEC): Free Stock Analysis
QUANTA SERVICES (PWR): Free Stock Analysis
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