Acquisition
Wood Group acquires Algerian company, SOMIAS Spa
A subsidiary of international energy services company John Wood Group PLC
("Wood Group") has acquired SOMIAS Spa, a maintenance and fabrication support
provider serving the Algerian oil & gas and petrochemical industries. Wood
Group will hold a 55% share and Groupe Asmidal, an Algerian Group and Somias'
current parent, will retain 45% ownership.
SOMIAS Spa had revenues of $11.8 million for the year ended 31 December 2005,
and a gross asset value at that date of $8.9 million. SOMIAS Spa will retain
its trade name and continue to be led by Zaghouane Khodja, general manager. The
company employs approximately 450 personnel and will operate within Wood
Group's Engineering & Production Facilities division.
"The acquisition of SOMIAS Spa marks a strategic move into North Africa and
follows the recent award of the In Amenas engineering and construction
modifications contract from the In Amenas Partnership of BP, Statoil and
Sonatrach", said Les Thomas, Group Director responsible for Wood Group's
Production Facilities activities. "SOMIAS Spa has an excellent track record of
supporting the operational needs of major clients including BP, AGIP,
Sonatrach, Sonalgaz and Fertial. It is our intent to augment and develop this
local capability with world class engineering and maintenance expertise."
"We are very excited to be joining Wood Group," said Zaghouane Khodja. "Wood
Group's policy to use local skills and expertise has already resulted in the
creation of more than 100 jobs following the award of the In Amenas contract."
-ends-
Note to editors
Wood Group is an international energy services company with $2.8bn sales,
employing more than 16,000 people worldwide and operating in 40 countries. The
Group has three businesses-Engineering & Production Facilities, Well Support,
and Gas Turbine Services-providing a range of engineering, production support,
maintenance management and industrial gas turbine overhaul and repair services
to the oil & gas, and power generation industries worldwide.
Wood Group Engineering & Production Facilities is a market leader in
engineering design, construction management and project management services,
providing 'life-of-field' engineering, including greenfield and brownfield
engineering, production enhancement, operations and maintenance, and
commissioning. With an extended range of engineering services in the design
and operation of both offshore and onshore oil & gas production, transportation
and processing facilities, E&PF provides value-added solutions that are
fit-for-purpose and tailored for each client.
SOMIAS Spa is a maintenance and fabrication support provider to the Algerian
oil & gas and petrochemical industries. The company employs more than 450
personnel and is headquartered in Annaba, East Algerian, with workshop
facilities in Annaba and Arzew, West Algeria.
For enquiries please contact
Carolyn Smith, Corporate Communications Manager, Wood Group
Tel: +44 (0) 1224 851099, e-mail: carolyn.smith@woodgroup.com
Bobbie Ireland, Corporate Communication-Americas, Wood Group
Tel: +1 281 828 3505, e-mail: bobbie.ireland@woodgroup.com
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