Worley (ASX:WOR) is set to open an on-market share buyback of up to AU$500 million in March, subject to market conditions, according to a Wednesday filing with the Australian bourse.

The timing and value of shares purchased will depend on market conditions, share price, and other factors, the filing said.

UBS and Barrenjoey were the advisers to the buyback program.

Shares rose nearly 10% in midday trade Wednesday.