24th May 2016 10:55
LONDON (Alliance News) - John Wood Group PLC Tuesday said it has been awarded an evergreen master services agreement by Statoil to support the Norwegian oil firm's offshore and onshore facilities.
The evergreen aspect of the contract means the contract has been automatically renewed as John Wood builds on its relationship with Statoil, which has been ongoing for many years.
Recent work that has been conducted for Statoil includes four subsea contracts, support for the Statoil Technical Efficiency Programme, and providing maintenance and modification services to four installations on the Norwegian continental shelf.
The agreement unveiled Tuesday will cover work including engineering studies, detailed engineering, procurement services and management assistance services.
John Wood shares were down 0.4% to 614.0 pence per share on Tuesday.
By Joshua Warner; [email protected]; @JoshAlliance
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