African contract extentions worth $250m for Woo...
JANUARY 21, 2014
Clutch of African contract extensions worth $250m for Wood Group PSN
Wood Group PSN (WGPSN) has secured two major contract extensions in Africa,
worth around $250mn USD.
WGPSN has secured a five year contract extension to provide operations,
maintenance and construction management services for asset facilities in
central Africa in a deal worth more than $140 million USD. The contract employs
about 580 people and marks the continuation of a contract first awarded in
2006.
An additional contract extension to provide operations and maintenance services
to assets in Equatorial Guinea boosts the company's success in Africa. This
three year contract extension is worth more than $110 million USD and secures
employment for around 130 people both onshore and offshore. The contract was
first awarded to WGPSN in 2003.
Wood Group has also recently established a new joint venture (JV) in West
Africa. Wood Group Ghana Limited is now a partnership with Mr Kwaku Boafo
Nyantekyi-Owusu, and enables the Group to bring integrated services and
technical support services to the oil and gas sector in Ghana.
Wood Group is a 49% shareholder in the JV which will be jointly operated and
led by Mr Nyanteki-Owusu, as president and majority shareholder.
James Crawford, WGPSN managing director for Africa, said: "We are extremely
proud of our performance in Africa. These contract renewals and our new joint
venture are testament to the standards of the services we provide and our
commitment to expansion and investment in Africa. Our focus centres on safety
performance, consistent delivery, developing a competent and skilled local
workforce and supporting the communities where we operate.
"We are focused on the continued development of our people, especially our
local management teams in Africa. Today, nearly 90% of our maintenance contract
personnel across the region are nationals."
In Africa, WGPSN employs more than 3,000 people working onshore and offshore.
The company currently operates in Algeria, Angola, Cameroon, Chad, Egypt,
Equatorial Guinea, Ghana, Mozambique, Nigeria, South Africa, Tunisia and
Uganda.
ENDS
Notes to Editor:
Wood Group is an international energy services company with around $7bn
revenues, employing around 44,000 people and operating in 50 countries. The
Group has three businesses - Wood Group Engineering, Wood Group PSN and Wood
Group GTS - 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. www.woodgroup.com
Wood Group PSN is a global provider of pre-operations, hook up & commissioning,
operations & maintenance, engineering, construction, project management,
training and decommissioning services to the energy industry. Employing over
30,000 people in more than 35 countries, Wood Group PSN offers high integrity,
brownfield services that support customers to optimise performance, maintain
production, reduce operating costs and provide integrity assurance.
www.woodgroup-psn.com
For further information contact:
Carolyn Smith, Director, Corporate Communications - Eastern Hemisphere, Wood
Group
Tel: +44 (0) 1224 851 099, email: carolyn.smith@woodgroup.com
Bobbie Ireland, Director, Corporate Communications - Americas, Wood Group
Tel: +1 281 828 3505, email: bobbie.ireland@woodgroup.com
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