Wood Group picks up Saudi Aramco contract

Energy services company Wood Group has won a contract from Saudi Armaco, the Dhahran headquartered firm which is the world’s largest oil and gas company.

Wood Group did not disclose the value of the contract but said while some work will be conducted in the United States, work in Saudi Arabia would employ up to 300 people, through a joint-venture partner.

The six year contract includes options for two renewals, Wood Group said in a statement, adding the contract included the establishment an offshore engineering centre of excellence in Al Khobar.

Wood Group Mustang chief executive Michele McNichol said the centre will help to establish offshore engineering capabilities in Saudi Arabia by transferring Wood Group Mustang’s experience, technical and project management resources, and flexible, innovative approach.

“We look forward to helping Saudi Aramco to implement its offshore production strategies and to developing the Al Khobar centre of excellence,” she said.

Shares in Wood Group were at $10.73 when the US market closed on Wednesday.