Wood Secures $118m Contract Extensions with Shell, Dana Petroleum, and CNOOC International
UK consulting and engineering firm Wood has recently announced securing a trio of reimbursable contract extensions worth $118m for operations and maintenance solutions with major oil and gas companies, including Shell, Dana Petroleum, and CNOOC International.
The contract extension with Shell UK will see Wood continuing its support operations on key assets such as Shearwater, Gannet, Nelson, and Penguins. Additionally, the extension with CNOOC International will involve Wood’s ongoing work on the Golden Eagle, Buzzard, and Scott assets. Wood will also be maintaining its operations on Dana Petroleum’s FPSOs Triton and Western Isles.
Wood has been successful in securing 100% of contract renewal and extension options across its UK North Sea portfolio in 2024, further solidifying its position in the industry. These recent contract extensions are a testament to the company’s commitment to delivering high-quality services and maintaining strong relationships with its clients.
According to Wood, the contracts will be supported by approximately 500 employees based in Aberdeen, showcasing the company’s dedication to local employment and expertise.
Steve Nicol, Wood’s president of operations, expressed his satisfaction with the contract extensions, stating, “Our long-standing clients continue to partner with us to enhance operations and improve production efficiency to ensure a reliable, safe, and sustainable energy supply.”