ABERDEEN oil services company Wood Group has won a $50 million (£40m) North Sea contract from Premier Oil, writes Ian McConnell.

Wood said the Premier Oil contract renewal and extension would see more than 150 jobs retained. The two-year contract will see Wood deliver topside operations and maintenance services to the Balmoral floating production vessel (FPV) in the Central North Sea and to the Solan installation, West of Shetland.

Dave Stewart, chief executive of Wood Group’s asset life cycle solutions business in the eastern region, said: “This contract clearly demonstrates the strong partnership we have developed with Premier Oil in the North Sea, renewing our support of the Balmoral FPV and broadening our delivery to include the Solan field, which came on stream in April 2016.”