On October 9 2017, WorleyParsons Europe Limited entered into a binding agreement to acquire the majority of Amec Foster Wheeler’s UK North Sea operations. Wood confirms the completion today of the sale of those operations for a cash consideration of £227 million. The cash proceeds will be used to reduce net debt.
The business being sold consists of the majority of Amec Foster Wheeler’s UK upstream oil and gas business located in the UK and serving UK customers (excluding its commissioning business, qedi).