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Wood Group

Oil & Gas

Wood Group to focus on M&As, sees impact on North Sea and US work

Wood Group said it remains focused on mergers and acquisitions as it said its overall financial outlook for the year remains unchanged, despite challenging market conditions. The company issued its pre-close trading update for the year ahead of results being published in 2016. Earlier this year the company announced the acquisition of Infinity as well as a previously deal to acquire Automated Technology Group in September as well as Beta Machinery Analysis in June.

Oil & Gas

Exclusive: Wood Group brings Altablue business back in-house

A company set up by Wood Group last year to perform personnel services to external businesses will now be brought in-house once again. Wood Group said the move to reel in its Altablue recruitment and payroll business was to reflect the “changing need” for resourcing service provisions in the current climate. The 100% owned Wood Group firm was set up in June last year and registered in Jersey.

Oil & Gas

WGPSN wins $31million contract on Powder River basin in US

Wood Group has won a $31million contract from Carbon Creek on their coalbed methane asset in the Powder River basin in the US. The deal will see Wood Group PSN (wgpsn) deliver operations management services to the field in Wyoming which consists of 7,000 drilled wells and up to 12,000 drillable locations. The region, which is the largest of its kind in the region, produces 385 million cubic feet of gas per day.

Oil & Gas

Job consultation launched at Sullom Voe Terminal

Talks are being held with Wood Group and Bilfinger Industrial Services staff working at the Sullom Voe Terminal in Shetland over the future of up to more than 200 positions. Wood Group is in discussions regarding around 90 positions at the BP-operated terminal following a review of its personnel requirements brought on by changes being made to work on the site. Meanwhile Bilfinger Industrial Services said it had also initiated consultation due to changes in seasonal workloads and winter working conditions.