UK: Wood Group Evaluating Sale of Well Support Division

In response to recent media speculation, Wood Group confirms that it is evaluating the possible sale of the Well Support division.

These discussions may or may not lead to a transaction. A further announcement will be made if appropriate.

Wood Group is a leading international energy services company, employing approximately 29,000 people worldwide and operating in 50 countries. The Company operates in three divisions: Engineering & Production Facilities, Well Support and Gas, Turbine Services.

Well support division provides solutions, products and services to enhance production rates and efficiency from oil & gas reservoirs. They are among the market leaders in artificial lift using electric submersible pumps “ESPs”, in surface wellheads and valves, and in electric and slickline services in the Gulf of Mexico.

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