REG - Wood Group (John)PLC - Wood and Harbour Energy agree $330m partnership

John WoodAnnouncement

04/09/2023 07:00

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RNS Number : 1785L  Wood Group (John) PLC  04 September 2023

 

 

4 September 2023

 

Wood and Harbour Energy agree new $330m strategic partnership

 

Wood, a global consulting and engineering company, and Harbour Energy
(Harbour), the UK's largest oil and gas producer, have entered into a new
strategic partnership for UK North Sea operations agreeing a new master
services agreement (MSA) and associated contracts valued at around $330
million.

Under this new agreement, Wood will provide engineering, procurement and
construction (EPC) and operations and maintenance (O&M) services,
including digital and decarbonisation solutions, for a number of Harbour's
offshore assets critical to UK energy security.

The strategic partnership will run for an initial term of five years, with
five one-year extension options covering Harbour's operated assets, including
its J-Area, Greater Britannia Area, Solan and AELE (Armada, Everest, Lomond
and Erskine) hubs.

Steve Nicol, Wood's Executive President of Operations, said: "We are
incredibly proud to have been selected and trusted by Harbour Energy to
partner with them across their North Sea assets. We share a commitment to
ensuring safe, reliable and sustainable energy production and are confident
our integrated digital solutions and world-leading engineering, operations and
decarbonisation expertise will enable Harbour to maximise their investment and
ensure the UK continues to have the energy mix it needs.

"We have worked on North Sea assets for more than 50 years and excel in
designing and managing the complexity of energy infrastructure while at the
same time seeking to minimise associated emissions. This new agreement and new
contracts are testament to Wood's role as a trusted technical partner to the
energy companies of the future, where our priority is to help our clients
deliver the energy the world needs and be able to transition to a low carbon
future."

Audrey Stewart, Harbour Energy's Vice President of Supply Chain, said:
"Harbour is excited to develop our relationship with Wood and the signing of
this contract is an important step forward in establishing our suite of
long-term strategic partnerships across our North Sea assets."

This partnership will support the employment of hundreds of people from Wood's
Operations business in Aberdeen and offshore across the two EPC and O&M
contracts, with further recruitment expected in 2024.

-Ends-

Note to Editors:

 

Wood

Wood is a global leader in consulting and engineering, helping to unlock
solutions to critical challenges in energy and materials markets. We provide
consulting, projects and operations solutions in 60 countries, employing
around 35,000 people. www.woodplc.com (http://www.woodplc.com)

 

Harbour Energy

 

Harbour Energy is the largest independent UK oil and gas producer. We have a
leading position in the UK as well as interests in Indonesia, Vietnam, Mexico,
and Norway. Our strategy is to continue to build a global, diversified oil and
gas company focused on safe and responsible operations, value creation and
shareholder returns. Across our operations we are committed to achieving our
goal of net zero greenhouse gas emissions by 2035 with respect to our scope 1
and scope 2 emissions. In addition, we are well positioned to use our existing
skills and infrastructure to help deliver the UK's CCS goals and more broadly
the country's emissions reduction targets.

 

For further information:

 

 Simon McGough, President, Investor Relations  +44 (0)7850 978 741

 Alex Le May / Del Bowen, FTI Consulting       +44 (0)20 3727 1340

 

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