Saudi Aramco and Jacobs Create Joint Venture for Social Infrastructure Program Management Throughout Saudi Arabia and Across Region

DHAHRAN, Saudi Arabia & DALLAS–(BUSINESS WIRE)–Saudi Aramco entered into an agreement today with Jacobs (NYSE:JEC) to
form a Saudi Arabia-based joint venture company to provide professional
program and construction management (PMCM) services for social
infrastructure projects throughout the Kingdom and across the Middle
East and North Africa. Jacobs’ presence in Saudi Arabia spans more than
40 years.

Jacobs Chairman and CEO Steve Demetriou said, “Our joint venture
exemplifies the power of bringing together Saudi Aramco and Jacobs as an
effective economic catalyst to support the Kingdom’s Vision 2030. The
new company combines Jacobs’ industry-leading capabilities and our joint
project delivery skills to help transform social infrastructure in this
rapidly changing region.”

The new company’s services will include a full-spectrum of professional
PMCM activities, with expertise in supporting all phases of the project
lifecycle for social infrastructure projects. The company will advance
training and help create quality jobs for Saudi nationals through the
development of a sustainable and competitive program.

About Saudi Aramco

Saudi Aramco is a world leader in integrated energy and chemicals. We
are driven by the core belief that energy is opportunity. From producing
approximately one in every eight barrels of the world’s crude oil supply
to developing new energy technologies, our global team is dedicated to
creating positive impact in all that we do. We focus on making our
resources more sustainable and more useful. This promotes long-term
economic growth and prosperity around the world.

About Jacobs

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. For more information, visit

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 Jacobs’ 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 as well as the Jacobs’ other filings
with the Securities and Exchange Commission. We do not undertake to
update any forward-looking statements made herein.


Saudi Aramco International Media Relations
VP Global Communications
Mendi Head