Jacobs Engineering in Pact With Chevron

Jacobs Engineering Group Inc. agreed to a five-year pact worth $30 million to provide oil field maintenance services for Chevron Corp.’s oil fields in the San Joaquin Valley. Pasadena-based Jacobs said it reached the agreement, valued at about $6 million a year, with San Francisco-based Chevron’s Chevron U.S.A. Production Co. unit. The agreement includes small capital construction. Jacobs provides engineering, procurement, construction and maintenance services. Chevron said the pact should reduce maintenance costs by 20%. Jacobs shares rose 25 cents to close at $30.69; Chevron shares rose $1.31 to close at $78.94. Both trade on the New York Stock Exchange.