Wood Group Gains Premier Extension
Monday 27 March 2017
London-listed company Wood Group has renewed and expanded upon a contract with UK independent Premier Oil in the North Sea.
The $50 million deal will see Wood Group continue to provide topside operations and maintenance services to the Balmoral floating production vessel in the Central North Sea, while also adding the Solan installation West of Shetland to the contract.
The contract will run for at least two years, and carries three one-year extension options.
"This contract clearly demonstrates the strong partnership we have developed with Premier Oil in the North Sea; renewing our support of the Balmoral FPV and broadening our delivery to include the Solan field, which came on stream in April 2016,” the chief executive of Wood Group's asset life cycle solutions business, Dave Stewart, said.
Wood Group has delivered operations, maintenance and engineering services to the Balmoral FPV since 2012 and has also held a separate contract for the delivery of fabric maintenance services to the vessel since 2014.