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Wood Group extends contract with Premier Oil, secures 150 jobs

Staff Writer |
Energy services firm Wood Group has extended its North Sea contract with explorer Premier Oil for a further two years in a deal worth $50 million and which will secure more than 150 jobs.

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The FTSE 250 company will provide topside operations and maintenance services to the Balmoral floating production vessel in the Central North Sea and the Solan installation West of Shetland to support Premier Oil's work in the region.

Wood Group has delivered operations, maintenance and engineering services to the vessel since 2012 and the new contract includes one-year extension options.

Dave Stewart, chief executive of Wood Group's asset life cycle solutions business in the eastern region, said the new contract broadens the company's delivery in the North Sea to include the Solan field, which came on stream in last April.

"We have consistently and successfully assured the management of safety and integrity and applied our innovation and technical expertise to maximise uptime and production, whilst also reducing field lift costs.

"This will be our continued focus; leveraging both our late life asset management expertise and production enhancing technical solutions as we continue to collaborate with Premier Oil on the safe and effective delivery of this latest contract," he said.

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