Wood Group win £262m contract with Harbour Energy which will provide hundreds of jobs in
Wood Group win £262m contract with Harbour Energy which will provide hundreds of jobs in Aberdeen
- The London-listed company said that contract is for an initial five years
- Wood revealed the deal will provide hundreds of jobs in the in Aberdeen area
The Wood Group have won a contract with Britain’s largest North Sea oil and gas producer, which it says will provide hundreds of jobs in the Aberdeen area.
The London-listed company said it has entered into a five-year contract with Harbour Energy for $330million (around £262million).
In a statement, Wood said it will ‘provide engineering, procurement and construction and operations and maintenance services, including digital and decarbonisation solutions, for a number of Harbour’s offshore assets critical to UK energy security.’
The Aberdeen-based company said that has entered in a five year contract with Harbour Energy for $330million (around £262million)
Steve Nicol, Wood’s executive president of operations, said: ‘We are incredibly proud to have been selected and trusted by Harbour Energy to partner with them across their North Sea assets.
‘We share a commitment to ensuring safe, reliable and sustainable energy production and are confident our integrated digital solutions and world-leading engineering, operations and decarbonisation expertise will enable Harbour to maximise their investment and ensure the UK continues to have the energy mix it needs.’
Last week, Harbour Energy revealed it had swung to a small first-half loss as the effect of declining energy prices was compounded by high tax payments.
Britain’s largest North Sea oil and gas producer reported an $8million loss for the six months ending June, having made a $1billion profit for the same period last year.
The company saw turnover from hydrocarbon production plummet by around a quarter to $1.99billion as oil and gas prices slid from their elevated highs.
Nicol added: ‘We have worked on North Sea assets for more than 50 years and excel in designing and managing the complexity of energy infrastructure while at the same time seeking to minimise associated emissions.
‘This new agreement and new contracts are testament to Wood’s role as a trusted technical partner to the energy companies of the future, where our priority is to help our clients deliver the energy the world needs and be able to transition to a low carbon future.’
Audrey Stewart, Harbour Energy’s vice president of supply chain, said: ‘Harbour is excited to develop our relationship with Wood and the signing of this contract is an important step forward in establishing our suite of long-term strategic partnerships across our North Sea assets.’
This partnership will support the employment of hundreds of people from Wood’s Operations business in Aberdeen and offshore across the two EPC and O&M contracts, with further recruitment expected in 2024.
Harbour shares were up by 0.55 per cent to 255p in Monday afternoon trading.