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WorleyParsons and INTEC Engineering announced a strategic alliance to offer offshore oil and gas customers in the Asia-Pacific region a comprehensive solution for large-scale integrated deepwater facilities, and subsea and marine systems projects. The alliance offerings will range from concept studies to full project delivery. The alliance for Australasia is based out of Perth, and out of Singapore for Asia. Tenaris S.A. has agreed to acquire Hydril Co. for $97 per share of Hydril common stock and $97 per share of Class B common stock, in cash. The acquisition will be financed through a combination of cash on hand and debt. Hydril, a US manufacturer of premium connections and pressure control products for drilling and production, reported 2006 revenues of $503 million, operating income of $132.2 million and net income of $91.3 million under US GAAP. Tenaris is a global manufacturer and supplier of tubular products and services.

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