North Sea

WorleyParsons completes Amec deal, enters North Sea

North Sea news

WorleyParsons this morning confirmed it had completed its £228million takeover of Amec Foster Wheeler’s North Sea assets.

“I look forward to welcoming our new colleagues as together we develop our plans for an exciting new future,” said Andrew Wood, CEO WorleyParsons.

Amec has more than 45 years’ experience working the North Sea. It has more than 3,000 employees in seven offices in the UK and the Middle East, focusing on the Modifications and Operations (MMO) market on the UK continental shelf.

A WorleyParsons spokesperson added: “We are excited to enter the UK North Sea market as a leading player based in Aberdeen. AFW UK is a world class integrated solutions business with best in class MMO capabilities and an excellent track record of international expansion.

“The business represents the majority of Amec Foster Wheeler’s former UK upstream Oil and Gas operations, to be divested as a remedy to competition concerns raised in relation to the John Wood Group’s acquisition of Amec Foster Wheeler.

“The AFW UK team is an exciting addition to the WorleyParsons group.”

The basin newcomer cited “robust North Sea energy” and an “acceleration of WorleyParsons’ corporate strategy to build a world class global MMO capability” as core benefits of the buy.

The spokesperson added: “The addition of AFW UK’s execution capability, experience and mature systems and processes will support efficient global MMO execution.

“We look forward to combining AFW UK’s capabilities with our international platform to create a global MMO business capable of driving medium term growth.”

It comes after Wood Group spent billions acquiring the rest of Amec’s business, forming the newly established Wood. Read more here.

For more from WorleyParsons chief executive Andrew Wood pick up a copy of next week’s Energy for an exclusive sit-down interview.

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