Wood Group nets $750M BP deal (UK)
- Business & Finance
Wood Group has been awarded a five year contract with an estimated value of $750 million from BP.
Under the contract Wood Group PSN (WGPSN), will deliver engineering, procurement and construction services to six UK continental shelf (UKCS) offshore upstream assets and the Forties Pipeline System (FPS) onshore midstream facilities in Grangemouth.
Effective January 2015, WGPSN says that the contract will create 150 new jobs and secure more than 700 existing positions. Furthermore, this is WGPSN’s largest contract award in 2014 and includes an option for two, one-year extensions.
WGPSN already provides engineering, procurement and construction services for six BP offshore assets – Clair, Magnus, ETAP, Andrew, Bruce, and its new Glen Lyon FPSO which is currently being constructed and is due to come online in 2016. This is the first time WGPSN has secured a contract for the FPS onshore facilities and adds to the company’s current contract to support BP’s Sullom Voe Terminal in Shetland, the company said in the statement.
Dave Stewart, UK managing director of WGPSN said: “Wood Group has more than 40 years of experience working with BP globally and this new contract is testament to the partnership and understanding we have developed.
“Providing this combined service across upstream and midstream operations for the first time positions us well for continued excellence in delivering safe, collaborative and innovative services directed at maximizing productivity and efficiency across BP’s assets in the UK.