Australia’s WorleyParsons to buy Jacobs energy, resources arm for US$3.3b

23 Oct 2018

US firm Jacobs Engineering Group Inc has agreed to sell its energy, chemicals and resources business to WorleyParsons for US$3.3 billion, in a deal that will double the size of the Australian engineering services firm.

The deal continues a shake-up of the engineering services industry, following Jacobs’ US$3.3 billion purchase of rival CH2M Hill Cos Ltd last year and the £2.2 billion (S$4 billion) takeover of Amec Foster Wheeler by UK oilfield services firm John Wood Group.

It comes as WorleyParsons emerges from a three-year downturn following the oil price crash, and positions it to tap growth in the refining and petrochemical sectors, with countries such as India building massive new plants.

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