21st Jan 2014 09:06
LONDON (Alliance News) - John Wood Group PLC Tuesday said it has secured two major contract extensions in Africa worth USD250 million.
The oil services company said it has secured a five-year contract extension to provide its services in central Africa, worth more than USD140 million. The contract employs roughly 580 people and was first awarded to the company in 2006.
The company also was provided a three-year extension to its services contract in Equatorial Guinea worth more than USD110 million. the contract employs roughly 130 people and was first awarded to the group in 2003.
John Wood also noted Tuesday that it recently established a joint venture partnership with Kwaku Boafo Nyantekyi-Owusu for oil and gas support services in Ghana.
The company will be a 49% shareholder in the joint venture, which will be led and operated by Nyanteki-Owusu, who will be majority shareholder.
John Wood shares were up 1.0% to 669.00 pence in early trading Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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