ENGINEERING giant Wood has won a multi-million contract to help increase production from a flagship oil and gas field in Saudi Arabia, which will help offset the impact of the downturn in the North Sea, writes Mark Williamson.
Aberdeen-based Wood will provide engineering and project management services in support of Saudi Aramco’s efforts to revamp the bumper Marjan field in the east of the country.
The contract is for five years. Work on the contract will be completed from Wood’s offices in Reading, Saudi Arabia and India.
Chief executive Robin Watson said: “We look forward to working in close partnership with Saudi Aramco to bring our broad and enduring expertise in engineering and project management to this project, which is significant for both our client and the Kingdom of Saudi Arabia.”
Wood said the contract is part of Saudi Aramco’s multi-billion dollar Marjan Crude Increment Program. This is one of a range of oil and gas mega-projects designed to enhance Saudi Arabia’s energy sustainability, diversify the economy, expand gas production, and localise domestic content.
Cuts in spending on new North Sea developments made by oil and gas firms in response to the sharp fall in the crude price since 2014 have taken a toll on Wood.
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