Wood Group wins multi-million dollar contract with BP

Wood Group has won a multi-million dollar contract to provide engineering services to BP’s existing subsea infrastructure in the Gulf of Mexico, UK and Norwegian continental shelves and offshore Azerbaijan.

The company’s subsidiary, Wood Group Kenny, will deliver the programme, project and integrity management and operational support for subsea projects under the five year contract, which is effective immediately.

WGK is already working for BP under a contract held since March 2007, providing engineering and project management services to the oil company's portfolio of future subsea projects.

This is the second major contract secured with BP this year. In February, Massy Wood Group, a company jointly owned by Wood Group PSN and the energy division of Massy Holdings Limited commenced a five year contract, with a potential value of up to $250m.

Chief executive officer of WGK, Bob MacDonald, said: “This significant contract demonstrates our unique independent model and our ability to deliver a complete portfolio of subsea services across global projects.

“Wood Group has over 40 years of experience working with BP. We look forward to continuing our close partnership with this long-term client on this project, which will see us provide operational support for many of the assets we helped to design.”

At 0830 GMT, Wood Group shares were down 1.2% at 601p.