09/09/2014 - 09:20

WorleyParsons buys MTG

09/09/2014 - 09:20

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Engineering and maintenance firm WorleyParsons has acquired US-based hydrocarbons management consultancy MTG for an undisclosed sum.

WorleyParsons buys MTG

Engineering and maintenance business WorleyParsons has acquired US-based hydrocarbons management consultancy firm MTG for an undisclosed amount.

MTG provides operational advice to the oil, gas, petrochemicals and chemicals sectors and has operations in North America, the UK and Australia.

WorleyParsons said MTG would provide its own advisory business, Advisian, with new skills in business transformation.

"This acquisition provides us with another very important building block in the growth of Advisian as we build a global advisory business that will make a material impact to our customers' operational and financial performance," WorleyParsons chief executive officer Andrew Wood said.

In a statement, MTG partners David Henderson and Jim Nichols said the combined capabilities and resources of the two companies would broaden the services they provided to the clients, while expanding their global footprint.

Meanwhile, WorleyParsons announced it had won a contract to provide engineering, procurement and construction management services to the expansion of Colombia’s main oil pipeline by Oleoducto Central SA for an undisclosed amount.

The pipeline is 829 kilometres long and currently has capacity of about 610,000 barrels per day.

In late August, WorleyParsons said it suffered a 23 per cent fall in full-year profit to $249 million, on the back of a downturn in its Australian business.

Its share price rose by 0.7 per cent to $15.91 per share at 9:50am. 

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