Aberdeen's Wood hails $350 million contract with energy giant BP

Wood, the Aberdeen-headquartered global energy and engineering services group, has been awarded a key contract by BP worth some $350 million (£330m).

The five-year, multi-region, reimbursable contract will see Wood support energy production through the provision of “asset repairs, modifications and enhancements”. It covers BP’s offshore installations.

The agreement renews Wood’s existing contracts in the regions to support the energy giant as the industry grapples with the dual challenges of energy security and transition.

Craig Shanaghey, executive president of operations at Wood, said: “This opportunity is exciting for Wood because it has allowed us to think big, knowing that with BP’s own bold ambitions, we can help meet the world’s energy needs as efficiently as possible.

The latest multi-region agreement covers BP’s offshore installations.

“Being able to truly leverage the breadth of experience and capability from right across our business will allow us to provide a solution that delivers transformational results.

“We have an extensive track record with BP and, for the first time, this multi-region approach allows us to combine these contracts into one single delivery model that puts exceptional execution, innovation and simplification at its heart.”

Brian Chalmers, who is responsible for Wood’s global relationship with BP and is president of strategy and development for operations, added: “We have proven that when we work in partnership, we can deliver transformational outcomes that support BP’s ambition to drive higher efficiency and productivity across their assets.”

The multi-region contract will be led by Wood’s operations business unit with a centralised contract management team and local delivery teams, supported by the company’s “global execution centre”.