Wood Group secures extension to £40m Dana deal

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Energy services firm Wood Group has retained its long-running contract to provide support for Dana Petroleum’s operations in the North Sea.

Under the two-year extension, worth up to £40 million a year, the Aberdeen-based group’s PSN subsidiary will continue providing maintenance and construction services for Dana’s Triton floating production, storage and offloading vessel (FPSO).

The contract will be supported by 150 people across Wood’s offices in Aberdeen and Glasgow, 120 of which work offshore.

Dave Stewart, Wood Group PSN’s UK managing director, said: “We have provided support to the Triton FPSO vessel for more than 14 years and are delighted to continue this contract with the new operator.”

Dana’s UK operations manager, Richard Lyon, said: “Dana has a determined growth strategy and Wood Group PSN has shown a commitment to helping us achieve this. This contract further enhances our long-term commitment to the UK continental shelf.”

Today’s deal is the latest in a string of North Sea contract extensions for PSN, which employs more 28,000 people across 35 countries.

In June, the group secured a £140m deal from fellow Aberdeen company Ithaca to operate the Beatrice offshore platforms and Nigg onshore terminal until the end of their operating life. That came weeks after it landed a deal, worth up to £56m, to operate Teekay’s Hummingbird Spirit FPSO vessel in the Chestnut field, 125 miles north-east of Aberdeen.