Wood Group lands 5-year deal on Hibernia platform (Canada)
- Business & Finance
Oil and gas services company Wood Group has secured a five-year contract to provide engineering, procurement, construction and maintenance services to the Hibernia platform, offshore Newfoundland.
According to Wood Group’s press release on Monday, the contract was awarded by Hibernia Management and Development Company Ltd. (HMDC) and it will be executed by Wood Group’s Eastern Canada operations, in St. John’s, Newfoundland & Labrador.
Wood Group added that the contract has the potential of two additional five-year contract extensions.
Michele McNichol, CEO for Wood Group’s Asset Life Cycle Solutions business in the Western Hemisphere, said: “Since first oil in 1997, Wood Group has been the incumbent contractor for many of these services on the Hibernia platform. The first producing field of Canada’s East Coast, it has been a cornerstone of our business in the region.
McNichol added: “Wood Group has provided a high level of service, retained specific knowledge to the platform, and executed work safely with local talent – even in the harshest of environments.”
The shareholders of Hibernia Management and Development Company Ltd. (HMDC) are: ExxonMobil Canada (33.125%), Chevron Canada Resources (26.875%), Suncor (20%), Canada Hibernia Holding Corporation (8.5%), Murphy Oil (6.5%) and Statoil Canada Ltd. (5%).
Currently, Wood Group executes EPC contracts on two of the three production platforms located offshore Newfoundland.