Elaine Maslin, 12th June 2012
Aberdeen-based energy service firm Wood Group today announced a string of contracts worth a total of more than £12million.
The deals, won by Wood Group’s GTS division, involves work in Thailand, Nigeria and the UK North Sea.
They are expected to pave the way for a further new contracts for the division, which services and maintains gas turbines.
Iain Murray, president, oil gas and industrial services, Wood Group GTS, said: “$100 barrel oil is driving a lot of clients to look at refurbishing and upgrading equipment.
“On the power side, a lot of the Asia Pacific markets are expanding and industrialising. They are looking for ways to get power to factories.
“We believe the market for our products and services is pretty healthy in the next three to five years.”
Wood Group GTS employs about 4,000 people and turns over about £772million annually.
The largest of the contracts announced yesterday was a 10-year term maintenance agreement, valued at about £9.6million, with Sime Darby Power (SDP) in Laem Chabang, Thailand.
Wood Group GTS has also won a contract worth about £1.9million with Leventis Overseas for the supply of three refurbished Nomad 5 power packages for use in Nigeria.
The SDP and Leventis deals follow work previously carried out for both firms by the GTS division.
Wood Group GTS has also picked up a five-year maintenance contract worth about £515,000 with Maersk FPSOs to support multiple Siemens gas turbines operating on its Curlew and North Sea Producer floating, production and storage vessels in the North Sea.
In addition, the division was recently awarded a contract by SDP for the overhaul of a compressor rotor at a power station in Laem Chabang.
Wood Group employs about 41,000 people through its three divisions, Wood Group Engineering, Wood Group PSN and Wood Group GTS, and turns over £3.8billion annually.