21st Apr 2016 06:37
LONDON (Alliance News) - John Wood Group said it has secured a new five-year contract worth around USD150.0 million from Nexen, a subsidiary of Chinese-giant CNOOC Ltd.
The new contract is an extension to an existing contract that was signed with Nexen back in April 2010, and will be handled by the London-listed company's subsidiary Wood Group PSN, which is focused on engineering, construction, project management and maintenance operations.
Wood Group PSN will continue to deliver operations, maintenance and technical support across
Nexen's North Sea offshore assets, specifically the Buzzard, Scott and Golden Eagle platforms.
John Wood said the new contract has meant 190 jobs have been retained and extends its relationship with Nexen to 12 years.
The contract is also the third one secured by Wood Group PSN in the UK North Sea since the start of 2016.
Nexen's parent company, CNOOC, is the largest producer of offshore crude oil and natural gas in China which also has vast amounts of operations elsewhere around the world.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Wood Group (J)