Wood Group Bags USD 396 Million UK North Sea Gig

Wood Group PSN has secured a major North Sea contract by Premier Oil to deliver integrated operations and maintenance support services to the Balmoral floating production vessel (FPV).

The contract, estimated to be worth in the order of £250 million (USD 396.5 million) , will see Wood Group PSN provide managed onshore and offshore operations and maintenance services including management of selected procurement and logistics support to the Balmoral. The semi-submersible production vessel is situated 122 miles North East of Aberdeen and services six fields namely, Balmoral, Stirling, Beauly, Brenda, Nicol and Burghley. The award to Wood Group PSN is a life of field work scope, currently estimated to run until 2020.

Effective 1st May 2012, the contract allows Wood Group PSN to secure employment for over 70 offshore staff and create up to 15 full time onshore positions. The contract was awarded after a competitive tender process.

Robin Watson, UK managing director for Wood Group PSN said: “This contract is a significant win for Wood Group PSN’s UK business. We will be focusing our energy on working in close partnership with Premier Oil to deliver safe operations that add value to the company’s North Sea business and support future growth.

“Wood Group PSN previously worked with Premier Oil to successfully commission and decommission the Sevan Voyageur, a Floating Production Storage and Offloading System (FPSO) in the Shelley field, central North Sea. This new contract award is an especially important milestone that allows us to nurture our relationship with a key client.”

Wood Group PSN will execute the work from Aberdeen with an operations team based in Premier Oil’s city offices. Across the UK, Wood Group PSN has a workforce of almost 8,000 personnel with approximately 3,000 onshore and 5,000 offshore workers.

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Offshore Energy Today Staff, February 27, 2012