Jacobs Awarded Contract Extension by Saudi Aramco

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Jacobs Awarded Contract Extension by Saudi Aramco

Jacobs Engineering Group Inc. (NYSE:JEC) announced that it has received an amendment from Saudi Aramco for its general engineering services (GES) contract.

While officials did not disclose the contract value, the five-year extension builds on the framework of the original contract signed in 2011. Services include engineering, procurement and construction management services associated with Saudi Aramco’s capital program. The services are being led by the Jacobs ZATE operation in Al-Khobar, Saudi Arabia.

The contract extension aligns with Saudi Aramco’s In-Kingdom Total Value Add program, which is designed to drive additional domestic value creation for Saudi Arabia through local employment, innovation, skills development and improved global competitiveness.

In making the announcement, Jacobs Senior Vice President Oil & Gas Bassim Shebaro stated, “We’re delighted by the opportunity to continue our close relationship with Saudi Aramco through this GES contract extension, and in doing so support local industry.

“We are proud of the Jacobs ZATE operation. We’ve made a strong commitment to this country and look forward to working closely with our clients and partners, including Saudi Aramco, to contribute to Saudi Arabia’s Vision 2030.”

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 over 54,000 people and operates in more than 25 countries around the world.

About Jacobs Engineering Group Inc

Their history begins with the company’s founding by Joseph J. Jacobs in 1947. Since then, they have gradually evolved from a one-man engineering consultant to the publicly traded Fortune 500 company they are today.

About two-thirds of Jacobs’ consistent growth comes from organic expansion as they serve the changing and growing needs of their customers. Because they partner with our clients and truly understand their business objectives, they work in the locations and industries where they are needed to be.

Source: www.jacobs.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.