Jacobs Engineering Group Inc.
), a construction services provider, received a contract from
Shell Hong Kong Limited, a subsidiary of
Royal Dutch Shell Plc.
), for Shell's Transformer Oil Project based in Hong Kong. The
contract value was not disclosed.
Royal Dutch Shell is a group of energy and petrochemical
companies while Shell Hong Kong Limited deals in retail,
commercial fuel, bitumen, marine and chemical businesses.
The oil project located at Tsing Yi installation site is
involved in the supply of oil, gas and natural products to Hong
Kong and Macau. According to the contract, Jacobs will offer
design engineering services for the terminal facility through its
China operations in Hong Kong and Macau.
This is not the first contract between Jacobs and Shell.
Earlier last month, Jacobs received a contract from Shell for its
operations in Australia. This continuous flow of contracts
portrays a strong relationship between the two companies
displaying the trust and efficiency employed by both.
On the same day, Jacobs inked another contract, being a
renewal of a previous deal, with NASA for its Manufacturing
Support and Facility Operations Contract ("MSFOC") at the George
C. Marshall Space Flight Center's Michoud Assembly Facility
("MAF"). The contract based in New Orleans, La., values roughly
This agreement is a renewal of the initial contract between
the two parties inked on May 12, 2009, to provide manufacturing
support and facilities operations management services. The
earlier contract involved three base years along with two option
years, the second of which has been initiated now.
MAF helps the space program teams with the production of large
aerospace structures at a single location. Also, MAF supports the
manufacture and development of hardware like Space Launch Systems
to facilitate the American space exploration plans.
Jacobs currently carries a Zacks Rank #2 (Buy). Other stocks
worth a look in the technical services industry are
AECOM Technology Corporation
Mistras Group Inc.
); both carrying a Zacks Rank #2 (Buy) as well.
AECOM TECH CORP (ACM): Free Stock Analysis
JACOBS ENGIN GR (JEC): Free Stock Analysis
MISTRAS GROUP (MG): Free Stock Analysis
ROYAL DTCH SH-A (RDS.A): Free Stock Analysis
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