Wood Group wins contract with Babcock International

Oil and gas services firm Wood Group has won a $120m (£86m) contract with Babcock International to provide industrial services to a number of its UK sites.

The company said the contact will be delivered by Wood Group PSN’s industrial service line business, Wood Group Industrial Services (WGIS) and will run for five years with an option to extend for another five.

Hugh Pelham, managing director of WGIS, said the contract builds on its 15-year relationship with Babcock.

“We have a strong history of delivering marine projects safely, to schedule and to budget. I look forward to building on this across further Babcock Group sites, and successfully continuing our long-standing relationship with this key client.”

It is the second contract awarded to WGIS this year after a new five-year contact with Valero Energy to provide services to the onshore Pembroke refinery in south west Wales.

Shares rose 0.74% to 628.64p at 1022 GMT.