Wood Group wins $750m contract from BP

11th Dec 2014 08:53

Energy services firm John Wood Group has been awarded a five-year contract worth an estimated $750m from oil giant BP.Under the deal, which will be effective from January 2015, the firm will deliver engineering, procurement and construction services to six UK continental offshore upstream assets and the Forties Pipeline System onshore midstream facilities in Grangemouth."Wood Group has more than 40 years of experience working with BP globally and this new contract is testament to the partnership and understanding we have developed," said group managing director Dave Stewart."Providing this combined service across upstream and midstream operations for the first time positions us well for continued excellence in delivering safe, collaborative and innovative services directed at maximizing productivity and efficiency across BP's assets in the UK."The group added that the contract will create 150 new jobs and secure more than 700 existing positions.Wood Group shares were up 3.11% to 580.00p at 09:36 on Thursday.