ENERGY services heavyweight Wood Group has secured its second major contract extension in the North Sea in as many months with a £140 million deal to run an oil platform for the rest of its useful life.
The new agreement, with fellow Aberdeen company Ithaca, means Wood Group has now renewed both its UK “duty holder” contracts.
The company’s PSN division will operate and deliver managed services to the Beatrice offshore platforms and Nigg onshore terminal for Ithaca until the end of their operating life.
Beatrice field is the largest oilfield in the inner Moray Firth area, and the deal secures almost 200 UK jobs.
Dave Stewart, UK managing director of Wood Group PSN, said: “We are delighted to receive this award and build on the excellent relationship we have developed with Ithaca over the past five years. This is our first life of asset contract globally and is reflective of our capability and expertise to deliver operations services and develop a programme for late life asset management, taking these facilities through operations to the decommissioning phase when the time comes.”
The award marks the continuation of a contract Wood Group has retained with Ithaca since 2008. It follows the multi-million dollar extension to provide duty holder and asset management services for the Teekay PJ Hummingbird Spirit floating production storage offloading vessel, announced in May 2013.
The news comes as engineer Amec unveiled its second contract win in as many days, with a deal to provide environmental and related consulting services for BP’s assets worldwide.
The value of the contract, which will run until to 2017 and is described as a “global master services agreement” for environmental services between the two companies, was not disclosed.