Wood Group (John) PLC $250m contract extension in Brunei (6470E)
03 Julio 2023 - 1:00AM
UK Regulatory
TIDMWG.
RNS Number : 6470E
Wood Group (John) PLC
03 July 2023
3 July 2023
Wood secures major $250m contract extension in Brunei
John Wood Group PLC ('Wood' or 'the Group') has been awarded a
contract extension worth approximately $250 million (USD) by Brunei
Shell Petroleum ('BSP'), Brunei's largest energy producer. The
two-year extension will focus on the continued rejuvenation of
BSP's offshore energy asset portfolio to maximise production
capacity and efficiency.
The scope of the contract includes brownfield engineering,
procurement, construction and commissioning services as well as the
management of its offshore marine fleet. The work Wood is
undertaking will maximise the production capacity of the assets
whilst minimising related emissions. This cost-reimbursable
contract is delivered by Wood's Operations business unit.
Ken Gilmartin, CEO at Wood, commented: "Wood is pleased to
continue supporting BSP's offshore assets in the next phase of its
rejuvenation project to upgrade core assets, which account for
around 80% of BSP's production, making this work critically
important to the company.
"This extension shows progress on our strategy; which focuses on
reimbursable projects and complex work in critical industries; that
we laid out last year and demonstrates the strength of our
relationship with an important client in a key region. It is also
testament to our track record of performance excellence, safe
operations and innovative technical expertise. The award also
highlights our continued focus on ensuring energy security across
the region whilst minimising the environmental impact of doing
so."
Employing around 1,500 skilled employees under the contract, 65%
of which are local to Brunei, Wood is committed to investing in
local people and capabilities through the Wawasan Brunei 2035
programme to advance employment and skills of the country's
national workforce.
The extension to February 2026 means Wood will deliver a range
of services to BSP's top 20 offshore installations, which account
for around 80% of the company's total oil and gas production. The
contract will be delivered by Wood's teams in Brunei from the
company's main location in Kuala Belait and offshore, supported by
the Manila, Philippines office.
-ends-
Note to Editors:
Wood is a global leader in consulting and engineering,
delivering solutions to critical challenges in energy and materials
markets. We provide consulting, projects and operations solutions
in 60 countries, employing over 35,000 people. www.woodplc.com
For further information:
Simon McGough, President, Investor Relations +44 (0)7850 978 741
Alex Le May / Ariadna Peretz, FTI Consulting +44 (0)20 3727 1340
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