17th Aug 2015 08:54
LONDON (Alliance News) - Oil and gas service company John Wood Group PLC on Monday said it has been awarded the front-end engineering and design (FEED) contract for the subsea development of the Talisman Energy Ca Rong Do field offshore Vietnam.
The field is thought to have around 67.0 million barrels of oil equivalent, and the company's subsidiary, Wood Group Kenny, will carry out comprehensive flow assurance studies and full FEED engineering of the subsea system and structures, risers, flowlines, and power and control umbilicals, it said.
That contract follows on from the group's previous top tensioned riser FEED contract for the field whereby John Wood will design the dry tree production/injection and drilling riser systems.
"Winning both of these contracts underlines our position as the international experts in FEED, particularly in riser and subsea specialities. We are leveraging our global network of engineers to deliver the most effective solutions for the Ca Rong Do development," said Wood Group Kenny Chief Executive Bob MacDonald.
John Wood shares were down 0.5% to 574.50 pence per share on Monday morning.
On Sunday, the Financial Times reported that John Wood is expected to say it has cut 4,000 jobs since the beginning of 2015 when it reports interim results on Tuesday.
By Joshua Warner; [email protected]; @JoshAlliance
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