INTEC, WorleyParsons Merge into New Subsea Services Company

INTEC Engineering and WorleyParsons Sea announce the merger of their respective companies into a new entity titled INTECSEA. INTEC Engineering was acquired by WorleyParsons in April 2008. As a result of the transition of INTEC into the WorleyParsons Group and strategic planning for best meeting client needs in the growing deepwater engineering sector, the companies have elected to combine full deepwater, subsea,
pipeline and floating production capability into a single entity. Leveraging off the industry reputations of INTEC and WorleyParsons Sea, the new business will be named INTECSEA with a new logo to represent the new Company.

INTEC's deepwater capability for subsea, pipelines, risers and FPSOs will be combined with WorleyParsons Sea’s independent engineering capability for floating systems. In addition, the existing offshore pipeline engineering and FPSO capabilities resident in WorleyParsons around the world will be added to INTECSEA. All together, staffing for the new company will be 800 people focused on its industry leading disciplines. This merger provides INTECSEA with important differentiation in the industry and is the largest assembly of this deepwater expertise in an independent consulting engineering and project management company. Combined with WorleyParsons' overall capability, the Group offers full service solutions around the world from
subsea wellhead through onshore processing in the hydrocarbons sector.

INTECSEA will be a global business unit within the WorleyParsons Group. INTEC's Ed Smith will serve as CEO and Sea's Pieter Wybro will serve as Deputy CEO. “We are particularly excited about adding new offices to support our clients, initially in Singapore and Melbourne.

"Maintaining both Houston offices is an important part of our growth strategy to attract and retain the best talent in the industry,” said Smith. The company’s headquarters will remain at the INTEC office and subsea and pipelines engineering capacity will be added to the Sea west Houston office.



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