Troubled Aberdeen-based engineering and consulting giant John Wood Group said on Thursday it has opened an office in Metairie, Louisiana, to deliver a “wave of complex offshore brownfield engineering and decommissioning projects.”

On Monday, Wood said its shares will be suspended from trading if, as it expects, it does not publish its FY24 accounts by April 30, 2025.

Wood’s share price is down almost 80% for the past year amid an independent review by Deloitte following “exceptional contract write-offs” and a “difficult” trading update for the year ended December 31, 2024.

Wood, one of Scotland’s biggest listed firms, employs more than 35,000 people in 60 countries.

“With over 3,000 oil and gas facilities in the Gulf of America, operators are seeking long term partnerships to assist with optimizing their asset portfolios through effective brownfield modifications,” said Wood on Thursday.

“As assets approach late life operations, and the United States government enforces decommissioning regulations, cost-effective late-life management and decommissioning strategies are crucial to maximizing production.

“As a world-leading engineering partner with expertise across the full asset lifecycle, Wood has opened an office in Metairie, Louisiana to deliver this wave of complex offshore brownfield engineering and decommissioning projects.”

Keven Ware, Wood’s Vice President Gulf of America Brownfield Engineering, said: “The Greater New Orleans area is a pivotal location for engineering talent and presents significant opportunities in the Gulf of America decommissioning market, which is poised for substantial growth.

“In the United States, Wood is well-known for greenfield projects, topsides and large-scale projects. Our Greater New Orleans area workforce will expand our brownfield capability and allow us to establish and grow partnerships with local contractors and suppliers, essential for our operations.

“As a leadership team, which includes two New Orleanians, we have a comprehensive understanding of the local workforce and culture. In 2025, key engineering and design experts, along with project services, will be recruited and based here to provide innovative and efficient engineering solutions to clients in the Gulf of America. We look forward to establishing our presence and expanding our team and operations.”