3rd Jun 2014 06:45
LONDON (Alliance News) - John Wood Group PLC Tuesday said it has been awarded a GBP36 million contract for the Stage 2 subsea development of BP PLC's Shah Deniz site, offshore Azerbaijan.
The oil and gas engineering and services company said its subsidiary Wood Group Kenny was awarded the contract, which will cover engineering and project management services, by BP Azerbaijan under a 2007 agreement by the two companies.
Wood Group said the contract is in addition to its subsea engineering work currently being carried out under an the agreement with BP, which covers engineering and project management services in the North Sea, Angola and Gulf of Mexico.
The company has worked with BP on the Shah Deniz project since 2008 to provide engineering support through multiple phases of the major project.
The producing Shah Deniz field was discovered in the Caspian Sea during 1999 as one of the world's largest gas condensate fields with roughly 40 trillion cubic feet of gas in place. BP and its partners have already put USD6 billion in the Stage 1 development of the site and are planning to significantly add to production with its Stage 2 development in order to meet some of Europe's gas demands.
"We are proud to continue our work with BP in this key region and look forward to using the knowledge we have built up in the previous project phases, and applying it to BP Azerbaijan's benefit during the production phase," Chief Executive of Wood Group Kenny, Steve Wayman said in a statement.
By Tom McIvor; [email protected]; @TomMcIvor1
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