9th Jun 2016 06:48
LONDON (Alliance News) - John Wood Group PLC Thursday said it has set up a new joint venture company in Mexico to offer engineering, procurement and construction services in order to capitalise on the reforms that have recently been made to the energy market in the country.
Mexico's energy market was under a state monopoly for around 75 years but the government introduced major reforms last year that has opened the country's energy market up to foreign companies.
Wood Group has moved to capitalise on the development by forming a new joint venture company with Grupo Diavaz, a Mexican oil and gas operator that also offers services to the sector. The joint venture company has been called Mustang Diavaz and is based in Mexico City offering engineering, procurement and construction management services to onshore and offshore facilities, and pipelines for the upstream and midstream oil and gas markets.
"Grupo Diavaz's knowledge of the Mexican oil and gas industry combined with Wood Group Mustang's global engineering experience will enable Mustang Diavaz to provide unmatched expertise to companies operating in Mexico," said Michele McNichol, chief executive of Wood Group Mustang.
Wood Group Mustang is one of three key Wood Group subsidiaries that offers project management, construction management, engineering and procurement services to the offshore, onshore, oil sands, pipeline, refining, chemicals, industrial and automation sectors.
By Joshua Warner; [email protected]; @JoshAlliance
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