Wood Group in $400m deal with Norway's Statoil

Oil services company Wood Group said it has been awarded a main contractor framework agreement worth about $400m (£265m) to deliver maintenance and modification services to four Statoil installations on the Norwegian continental shelf.

Wood Group Mustang Norway will provide support for the Snorre A&B, Grane and Visund facilities over the term of the six year contract, with the option of a further four-year extension, the company said.

The agreement is expected to create approximately 250 jobs.

In addition, Wood Group Mustang Norway has been awarded a competition agreement, which will enable the company to tender for individual projects for Statoil operated onshore and offshore installations in Norway. This agreement covers a period of 10 years that starts in the first quarter of 2016.

Wood also announced it has completed its acquisition of The Infinity Group, a Texas Gulf Coast industrial construction and maintenance contractor serving the petrochemical, refining and gas processing sectors.