Formation of WorleyParsons Energy Services
Worley
Leading professional services company Worley Group Limited announced a new 50:50 joint venture in North America between Worley subsidiary, Worley International Inc and Parsons Energy & Chemicals Group Inc. The joint venture, to be called WorleyParsons Energy Services, will provide critical mass for Worley, substantially increasing the company's ability to supply a full range of services for major international oil and gas projects. The merger is unlikely to contribute materially to Worley's earnings in the 2003/2004 financial year.
WorleyParsons Energy Services combines the existing US upstream oil and gas, and pipeline services businesses of both Worley and Parsons Energy & Chemicals Group. The combined resources, technology and project management expertise of both companies will provide US clients with a comprehensive range of project delivery services for offshore and onshore energy-related developments.
WorleyParsons Energy Services, headquartered in Houston, will commence operations in December 2003 and will be led by Worley's US President Mr. Peter Brooks.
Commenting on the announcement, the Chief Executive Officer of Worley, Mr. John Grill, said "This merger will give us greater critical mass enabling us to bid for larger global oil and gas projects which are executed in North America. Worley has a strong track record in forming strategic relationships and accelerating growth by accessing complementary skills and geographic reach. This new joint venture will provide a strong basis to build a larger, sustainable business in the US over time."
WorleyParsons Energy Services combines the existing US upstream oil and gas, and pipeline services businesses of both Worley and Parsons Energy & Chemicals Group. The combined resources, technology and project management expertise of both companies will provide US clients with a comprehensive range of project delivery services for offshore and onshore energy-related developments.
WorleyParsons Energy Services, headquartered in Houston, will commence operations in December 2003 and will be led by Worley's US President Mr. Peter Brooks.
Commenting on the announcement, the Chief Executive Officer of Worley, Mr. John Grill, said "This merger will give us greater critical mass enabling us to bid for larger global oil and gas projects which are executed in North America. Worley has a strong track record in forming strategic relationships and accelerating growth by accessing complementary skills and geographic reach. This new joint venture will provide a strong basis to build a larger, sustainable business in the US over time."
Most Popular Articles
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- UK Oil Regulator Publishes New Emissions Reduction Plan
- PetroChina Posts Higher Annual Profit on Higher Production
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- McDermott Settles Reficar Dispute
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- USA Oil and Gas Job Figures Jump
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension