Aberdeen-based Wood Group said it was awarded a $50 million contract with Premier Oil to deliver topside operations and maintenance services to the Balmoral floating production vessel (FPV) in the Central North Sea and the Solan installation West of Shetland.
The two year contract which has three one-year extension options retains more than 150 jobs and extends Wood Group’s support of Premier Oil in the UK Continental Shelf.
Wood Group has delivered operations, maintenance and engineering services to the Balmoral FPV since 2012.
Dave Stewart, CEO of Wood Group’s Asset Life Cycle Solutions business in the eastern region said: “This contract clearly demonstrates the strong partnership we have developed with Premier Oil in the North Sea; renewing our support of the Balmoral FPV and broadening our delivery to include the Solan field, which came on stream in April 2016.
“We have consistently and successfully assured the management of safety and integrity and applied our innovation and technical expertise to maximize 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.”
Wood Group also currently supports Premier Oil in the delivery of fabric maintenance services to the Balmoral FPV in a separate contract held since 2014.
On March 13, Wood Group said it agreed to buy rival firm Amec Foster Wheeler for about £2.2 billion in an all-share “transformational” deal.
Wood Group’s biggest ever takeover will create a combined firm with a stock market value of about $6 billion, according to Bloomberg data, making it among the biggest oil services companies in Europe, ahead of Petrofac and of Saipem SpA.