WorleyParsons to Acquire Norway's Bergen Group Rosenberg

WorleyParsons revealed Thursday that it has acquired Norway's Bergen Group Rosenberg for a cash consideration of $194 million. Completion of the acquisition is expected by the end of February 2013, WorleyParsons noted in its disclosure.

Rosenberg, a fully-integrated engineering, fabrication and construction company, is based in Norway's oil capital, Stavanger. The company employs around 650 people. 

"Rosenberg provides the ideal platform for us to expand our presence in the Norwegian Continental Shelf offshore oil and gas market. I am excited that this acquisition will continue to strengthen and grow our ability to support our hydrocarbons clients [in the region]," WorleyParsons' CEO Andrew Wood, said in a statement.

"The acquisition of Rosenberg is a strategic beachhead into Norway for WorleyParsons and our focus is very much on continued growth, which is good news for Rosenberg employees," a spokesperson representing WorleyParsons told Rigzone. 

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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WorleyParsons Posts 1H Profit Rise, Remains Optimistic on O&G Outlook

WorleyParsons said Wednesday that it is confident about the outlook for its hydrocarbons segment, amid increased capital expenditure announcements from major oil companies.

In its earnings statement, the company said that it expects "a high number of greenfield and brownfield opportunities and favorable economics to continue to drive increased gas utilization and oil production projects."

In the six months to Dec. 31, 2012, WorleyParsons posted Wednesday a net profit of $160.6 million (AUD 155.1 million), up 2.1 percent from the previous corresponding period of $157.1 million (AUD 151.9 million).

In the same period, WorleyParsons recognized a 33.7 percent lift in revenue at $4.6 billion (AUD 4.4 billion). The company's hydrocarbon segment helped boost its profit, accounting for $2.9 billion (AUD 2.8 billion), up 14 from one year ago.

"Demand for our hydrocarbons services remains strong. We continue to see a high level of development activity in unconventional oil and gas around the world. The low cost of natural gas in the U.S. continues to drive downstream developments, including pipelines, petrochemicals, liquefied natural gas and gas-to-liquids projects," WorleyParsons said in its earnings report.

"We believe that our global experience in coal seam methane, tight gas and shale gas positions us very well in this market by enabling us to provide a differentiated and proven market offering," the company added.

WorleyParsons is also expecting to employ more workers in line with its ambitions to grow its hydrocarbons segment.

"Our people numbers have declined marginally from Jun. 30, 2012. However, we expect people numbers to increase over the second half [of this year]," the company said. At present, WorleyParsons employs 40,400 workers.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

WorleyParsons Posts 1H Profit Rise, Remains Optimistic on O&G Outlook

WorleyParsons said Wednesday that it is confident about the outlook for its hydrocarbons segment, amid increased capital expenditure announcements from major oil companies.

In its earnings statement, the company said that it expects "a high number of greenfield and brownfield opportunities and favorable economics to continue to drive increased gas utilization and oil production projects."

In the six months to Dec. 31, 2012, WorleyParsons posted Wednesday a net profit of $160.6 million (AUD 155.1 million), up 2.1 percent from the previous corresponding period of $157.1 million (AUD 151.9 million).

In the same period, WorleyParsons recognized a 33.7 percent lift in revenue at $4.6 billion (AUD 4.4 billion). The company's hydrocarbon segment helped boost its profit, accounting for $2.9 billion (AUD 2.8 billion), up 14 from one year ago.

"Demand for our hydrocarbons services remains strong. We continue to see a high level of development activity in unconventional oil and gas around the world. The low cost of natural gas in the U.S. continues to drive downstream developments, including pipelines, petrochemicals, liquefied natural gas and gas-to-liquids projects," WorleyParsons said in its earnings report.

"We believe that our global experience in coal seam methane, tight gas and shale gas positions us very well in this market by enabling us to provide a differentiated and proven market offering," the company added.

WorleyParsons is also expecting to employ more workers in line with its ambitions to grow its hydrocarbons segment.

"Our people numbers have declined marginally from Jun. 30, 2012. However, we expect people numbers to increase over the second half [of this year]," the company said. At present, WorleyParsons employs 40,400 workers.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

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