Aberdeen's Wood hails £125m contract extension with long-standing client Equinor

Wood, the Aberdeen-headquartered energy and engineering services heavyweight, is to extend its two-decade long relationship with global energy company Equinor.

The move follows the award of a three-year contract extension, worth some $170 million (£125m), to support Equinor’s assets on the Norwegian Continental Shelf.

The extension continues an existing multi-asset framework agreement with the group, which was initially awarded in 2015 and will now extend through to 2026.

Craig Shanaghey, Wood’s president of operations across Europe, the Middle East and Africa, said: “I am proud to be further extending our relationship with Equinor, one that is built on a foundation of trust and confidence in our delivery.

The Snorre A platform is one of the assets covered by the contract with Wood.

“Over the past 20 years or so, we have had the opportunity to work with Equinor across a multitude of their onshore and offshore assets which have played a critical role in the global energy mix, ensuring the supply of secure and affordable energy in the face of unrelenting demand.

“It is exciting to have the opportunity to continue to strengthen our relationship and leverage our global capabilities to drive down production costs, reduce the carbon intensity of operations, and evaluate the role these assets can play in the journey towards a net-zero future.”

Lars Fredrik Bakke, Wood’s vice president of Norway operations, added: “With more than 400 Wood employees supporting the operations of these assets, this three-year extension provides job security as well as further opportunities to increase the efficiency and productivity of these important assets. Our relationship with Equinor is a real pride point in our portfolio.”

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