Aberdeen-based global engineering and consulting giant John Wood Group said it has been awarded a multi-region engineering services contract by BP “to support efficient and safe energy production through the provision of asset repairs, modifications and enhancements.”

Wood said the five-year reimbursable contract is valued at around $350 million and will enable “operational efficiencies to be realised” across BP’s offshore installations.

Wood said: “This agreement renews Wood’s existing contracts in the regions to support BP to produce energy safely, efficiently, and reliably, as the world contends with the dual challenges of energy security and transition.”

Wood employs about 40,000 people in 60 countries.

Wood executive president of operations Craig Shanaghey 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.

“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, responsible for Wood’s global relationship with BP, said: “I am delighted that we will have the opportunity to drive a step change in the performance of BP’s offshore portfolio.

“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.”