Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,376.43 -48.42 -0.29%
S&P 500 1,861.65 -0.66 -0.04%
NASDAQ 4,068.92 -17.30 -0.42%
Ticker Volume Price Price Delta
STOXX 50 3,150.92 11.66 0.37%
FTSE 100 6,611.89 27.72 0.42%
DAX 9,399.10 81.28 0.87%
Ticker Volume Price Price Delta
NIKKEI 14,417.53 -0.15 -0.00%
TOPIX 1,166.59 0.04 0.00%
HANG SENG 22,760.24 64.23 0.28%

WOOD GROUP (JOHN) PLC: WGPSN chalks up sixth major North Sea contract extension


WOOD GROUP (JOHN) PLC: WGPSN chalks up sixth major North Sea contract extension 4 July 2013

WGPSN chalks up sixth major North Sea contract extension

Wood Group PSN (WGPSN) has secured its sixth major North Sea contract extension this year. The latest award comes in the form of a three-year contract from Nexen Petroleum UK Limited to deliver operations, maintenance and technical support services to the Scott and Buzzard platforms.

The contract also covers services to Nexen's Golden Eagle area development which is expected to come on stream in 2015. The award follows five other recent North Sea contract extensions from CNR, TOTAL E&P UK, Teekey, Ithaca Energy and ConocoPhillips (UK) Limited.

Nexen first awarded WGPSN a contract three years ago. Effective immediately, 250 people will be employed offshore and 30 onshore in support of the contract.

Dave Stewart, UK managing director of WGPSN said: "We work collaboratively with Nexen to ensure production efficiency, equipment reliability, cost control and outstanding safety performance on both the Scott and Buzzard platforms. We are delighted to have secured an extension to this significant contract. Combined with our involvement in the hook up and commissioning of the Golden Eagle development project, this award underlines the strength of our relationship with Nexen."

WGPSN has a long history with Nexen, having previously delivered hook-up and commissioning services for the Buzzard platform enhancement project in the North Sea. The company was also awarded the contract for the offshore hook-up and commissioning for Nexen's Golden Eagle Area Development (GEAD) in December 2012, while Wood Group ODL was awarded the contract to deliver documentation and training systems for the same project.

This award adds to a growing list of extensions for WGPSN in 2013. Two weeks ago WGPSN announced its first life of field contract Ithaca Energy which will see WGPSN operate and deliver managed services to the Beatrice offshore platforms and Nigg onshore terminal until the end of their operating life. This was quickly followed last week with a one year extension from ConocoPhillips (UK) Limited, one of its longest running most complex project in the North Sea, valued at $60 USD million (£40 million GBP).

In the UK, Wood Group now employs more than 11,000 people working onshore and offshore.

ENDS -

Notes to Editors:

Wood Group is an international energy services company with around $7bn sales, employing about 43,000 people worldwide and operating in 50 countries. The Group has three businesses - Wood Group Engineering, Wood Group PSN and Wood Group GTS providing a range of engineering, production support, maintenance management and industrial gas turbine overhaul and repair services to the oil & gas, and power

generation industries worldwide. www.woodgroup.com

Wood Group PSN is a global provider of pre-operations, hook up & commissioning, operations & maintenance, engineering, construction, project management,training and decommissioning services to the energy industry. Employing over 25,000 people in more than 35 countries, Wood Group PSN offers high integrity,brownfield services that support customers to optimise performance, maintain production, reduce operating costs and provide integrity assurance. www.woodgroup-psn.com

Nexen Petroleum UK Ltd is a subsidiary of Nexen Inc., a wholly owned subsidiary of CNOOC Limited. Nexen UK produces oil & natural gas from a number of fields including Buzzard, the largest North Sea discovery in over 25 years. In 2012, Nexen's UK assets produced 203 mboe/d at 100% working interest (99,000 boe/d net).

For further information contact:

Carolyn Smith, Corporate Communications Director - Eastern Hemisphere, Wood Group Tel: 01224 851099, email: carolyn.smith@woodgroup.com

Bobbie Ireland, Corporate Communications Director - Western Hemisphere, Wood Group Tel: +1 281 828-3505, email: bobbie.ireland@woodgroup.com

END

-0- Jul/04/2013 06:00 GMT

Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement