Wood Group clinches five-year Gulf of Mexico deal

WOOD Group has won a five-year contract to support deepwater oil and gas platforms in the Gulf of Mexico.

Derek Blackwood  firm has worked with Hess since 1999

Under the deal with the American Hess Corporation, the Aberdeen-based company’s PSN arm will provide operations and maintenance services to the Baldpate production platform.

Wood Group PSN will also provide services to Hess’s Tubular Bells and Stampede deepwater facilities in the Mississippi Canyon and Green Canyon regions of the Gulf of Mexico when they come on stream in the future. The contract will lead to the creation of up to 100 jobs in the region.

As part of the agreement Wood Group PSN will develop a computerised maintenance management system to track the maintenance and repair of rotating equipment and maintenance parts.

Derek Blackwood, Wood Group PSN’s Americas president, said: “Hess is a valued customer and since 1999, we have maintained contracts with it in the UK and in Equatorial Guinea, and we are pleased to have extended this relationship to the US Gulf of Mexico.”

Wood Group PSN employs over 5,000 people in the US, working both offshore in the Gulf of Mexico and onshore servicing the conventional oil & gas sector and shale prospects.

• The wife of Wood Group’s chairman Allister Langlands has sold more than £2.1 million worth of shares.

Helen Langlands sold 250,000 shares at 846p each, reducing the couple’s stake to 574,000.

Updating shareholders at its AGM earlier this month, Langlands said Wood Group remained confident of meeting its full-year targets despite sluggish progress in its gas turbines division.

Shares in the company closed down 10p at 838p yesterday.