Aberdeen-based global engineering and consulting giant John Wood Group said it has agreed to settle its legacy lawsuit with Enterprise Products Operating LLC for $115 million, to be paid within the next seven days.
Enterprise filed a lawsuit in 20216 against Amec Foster Wheeler plc, a company Wood acquired in 2017, and one of its subsidiaries.
“It related to alleged cost increases and delays on a cost reimbursable plus fixed fee contract secured in 2013 to engineer, procure and construct a propane dehydrogenation unit in Mont Belvieu, Texas,” said Wood.
The Aberdeen firm added: “John Wood Group PLC announced with its half year results on 23 August 2022 that the trial for the legacy lawsuit with Enterprise Products Operating LLC (Enterprise) had concluded, with a decision expected by the year end.
“Wood today announces that it has reached a settlement agreement with Enterprise.”