WorleyParsons buys INTEC Engineering

WorleyParsons has acquired INTEC Engineering from Heerema for $108.5 million.

Offshore staff

NORTH SYDNEY, Australia –WorleyParsons has acquired INTEC Engineering from Heerema for $108.5 million.

"The world's remaining oil reserves are increasingly being found in difficult to access areas, forcing our clients to look further afield in their search for new reserves," says John Grill, WorleyParsons CEO. "The acquisition of INTEC completes the missing link in our hydrocarbons business which we have been seeking to fill for several years and strategically positions WorleyParsons to service our clients operating in deepwater locations."

"Joining WorleyParsons enables INTEC to accelerate its growth strategy and leverage our combined extensive experience in deepwater and Arctic expertise," says Edward Smith, INTEC president.

04/01/2008

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