John Wood Group Unit Gets Ecopetrol Optimization Study Pact

13th Jul 2010 14:29

LONDON (Dow Jones)--U.K.-based energy services provider John Wood Group PLC (WG.LN) said Tuesday its Mustang subsidiary has been awarded a contract by Colombia's national oil company, Ecopetrol (EC), to evaluate how to optimize polymer production at Ecopetrol's petrochemical complex. No financial details of the deal were provided. Mustang, part of Wood Group's engineering and production facilities division, said the study will look at ways to maximize revenue from the production of polyethylene, polypropylene and aromatics products from ethane, liquid petroleum gas and naphtha feeds from the Barrancabermeja and Cartagena refineries and the Cusiana gas fields. Location options for the new facility include Ecopetrol's Cusiana or Cartagena sites in Colombia, it said. At 1320 GMT, John Wood Group shares were up 5.7 pence, or 1.6%, at 352.9 pence in a higher FTSE 250 Market--up 1.5% -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires July 13, 2010 09:29 ET (13:29 GMT)