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.
FTSE 250
20,831.84
16:39 20/09/24
FTSE 350
4,543.89
16:49 20/09/24
FTSE All-Share
4,501.08
17:04 20/09/24
Oil Equipment, Services & Distribution
4,928.34
16:30 13/09/24
Wood Group (John)
130.60p
16:40 20/09/24
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.