Australia's WorleyParsons has completed its US$3.2 billion acquisition of Jacob Engineering’s energy, chemicals and resources divisions.
WorleyParsons said it was adopting a new brand, Worley, following the successful completion. The new merged business now employs 57,600 people across 51 countries worldwide.
Krish Iyer, President – Energy & Chemicals Services, Middle East & Africa said: “We can now provide a full service offering to upstream, midstream and downstream customers across the region while our localisation commitments will continue across the Middle East.
“By expanding our geographic footprint and diversifying our offering we gain leading market positions across the hydrocarbons and chemicals sectors, while strengthening our position within mining, minerals & metals.”
Commenting on the news CEO Andrew Wood said: “This acquisition is about more than capacity and capability. It’s about opportunity. The opportunity to become the partner of choice for our customers, the employer of choice for our people and to deliver enhanced returns for our shareholders.
“Our new brand reflects our place at the forefront of the energy, chemicals and resources markets, and our ability to support our customers through the global energy transition. We plan to embrace the heritage of both WorleyParsons and Jacobs ECR while looking firmly ahead to, what promises to be, an exciting future as one entity.”
The acquisition also marks an expansion in other strategic markets including Europe, North America, Canada, and India. The company will have greater global reach, with leading market positions in the energy, chemical and resources sectors.