STW And WorleyParsons Sign Agreement To Provide Comprehensive Water Treatment Systems Solutions
MIDLAND, Texas, Dec. 7, 2011 /PRNewswire/ -- STW Resources Holding Corp. ("STW Resources") (OTCQB: STWS), a water reclamation services company, today announced it has signed a memorandum of understanding with WorleyParsons Group, Inc., (WorleyParsons), a Delaware corporation, a global provider of technical, project and operational support services delivering engineering, procurement and construction management.
Under the terms of the agreement, STW and WorleyParsons will cooperatively pursue joint business opportunities with municipalities and companies within the energy sector. The MOU creates a formidable combined offering, leveraging the engineering services and expertise of WorleyParsons, a company with over 34,000 employees, STW's knowledge of the energy sector and Bob J. Johnson and Associates (BJJA) technology expertise along with the knowledge and experience to handle any and all contaminated waters. The agreement effectively and immediately expands WorleyParsons' domestic services by utilizing its energy and municipality teams in the United States and Australia. The MOU also positions STW to benefit from the global reach and unrivaled reputation of one of the world's largest engineering organizations.
This agreement will expand STW's existing resources and create a more comprehensive and sophisticated treatment system tailored for the unique logistical needs of each municipal and oilfield customer addressing the infrastructure and water transfer strategies.
STW and WorleyParsons are currently analyzing the design of a water treatment system with a municipality looking to alternative sources for water rather than traditional surface or fresh water aquifers. STW is in various stages of development of proposals for water reclamation projects for oil and gas companies that WorleyParsons could be an integral part of.Ken Burris, Senior Principal Consultant and Director of Water and Wastewater in the United States for WorleyParsons, commented, "The alignment of our industrial and municipal strengths with the opportunities that exist through STW's knowledge and resources in the oil and gas sector creates great synergy and a win-win relationship." This agreement will allow STW to provide total solution services consisting of engineering, process and design, technology, installation and operation, and financing for water projects. This relationship, coupled with the previously announced agreement with Bob J. Johnson & Associates, Inc., (BJJA), a full-service water treatment firm, help to create a problem-solving distribution network for water reclamation solutions for a large group of potential customers. Stanley Weiner, CEO of STW Resources, added, "We are excited to partner with WorleyParsons, one of the world's largest, most innovative and well-respected firms in industrial and municipal water project engineering. We are focused on building total project delivery capabilities, and this agreement combines WorleyParsons' engineering and project construction services expertise with STW's experience as a water treatment services and technology provider. By partnering with established industry leaders in engineering and manufacturing, our target market base is immediately expanded and our pipeline of opportunities increases. As a result, STW's ability to provide project financing and on-site management is expected to create revenue expansion opportunities for both STW and WorleyParsons." About WorleyParsons From small brownfield services contracts to mega greenfield projects, WorleyParsons has the skills and technologies to address all challenges. Its service capability covers the entire asset lifecycle: from identifying the opportunity to the operating phase.
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