Oilfield services provider Wood is expanding operations in the Southern North Sea following the award of a new operations and maintenance contract with Shell and Nederlandse Aardolie Maatschappij (NAM).
Under the three-year contract, which comes with two one-year options to extend, Wood will provide manpower to support operations and maintenance while assessing ways to drive down costs and extend production life across Shell UK (SNS) and NAM onshore and offshore assets.
To support the delivery of this contract and propel growth, Wood will establish a new, regional base in the Great Yarmouth area. There, it will leverage its broader operations and decarbonisation expertise to unlock sustainable energy solutions in the Southern North Sea and East Anglia area, the company explained on Thursday.
In related news, Wood will be seizing an opportunity to enhance its clean growth plans following a recent award of a first-ever government-backed green transition loan by UK Export Finance worth $586 million. The new facility is set up to support the UK exporting companies with working capital to invest in low-carbon growth markets including renewables, hydrogen, and decarbonisation.
Craig Shanaghey , President of Wood’s Operations business in Europe, Middle East and Africa, said: “We are delighted to have secured this contract with our new client, Shell UK (SNS) and NAM, which offers an exciting opportunity to leverage our breadth of experience to maintain and enhance the performance of its assets”.
The contract will be delivered by around 120 Wood employees across the offshore and onshore assets including the Clipper and Leman offshore assets, Bacton Gas Terminal, Kroonborg and Kasteelborg vessels and the Seafox4 barge campaign. The assets are located in the UK and Netherlands sectors of the Southern North Sea basin.
Shanaghey added: “We look forward to working with Shell UK (SNS) and NAM to support highly efficient and optimised operations, while ensuring the security of essential energy supply from across their Southern North Sea assets”.