Wood Group acquisition of OCS
For Immediate Release
Wood Group Acquires Operators & Consulting Services, Inc.
John Wood Group PLC ('Wood Group') has acquired Operators & Consulting
Services, Inc. ('OCS'), an oilfield services company providing specialized
outsourced personnel, along with operations and maintenance support services to
oil and gas producers in the Gulf of Mexico.
OCS had revenues of $49 million for the year ended 31 December 2001, and had a
net asset value of $5.3 million as of that date. The company is based in
Lafayette, Louisiana, and provides services to more than 70 clients across the
Texas to Alabama Gulf coast. OCS will continue to be led by the existing
management team and will be part of Wood Group Production Services ('WGPS').
With the addition of OCS, WGPS now employs more than 900 personnel.
'The acquisition of OCS emphasizes Wood Group's commitment to the Gulf of
Mexico and is a strategic expansion of our production facilities management and
maintenance capabilities in the Gulf,' explained Bill Edgar, Group director
responsible for Wood Group's Engineering and Production Facilities business.
'OCS has a long reputation for providing high-quality technical services with a
strong focus on health, safety and the environment. The addition of OCS'
expertise with Wood Group's global experience will enable our Engineering and
Production Facilities business to broaden its service base in integrated
operations support to suit individual client requirements.'
'We at OCS are very excited to be joining Wood Group,' stated OCS President
Jerry Artigue, who will continue in his current position. 'We look forward to
leveraging our complementary strengths to deliver an enhanced range of services
to satisfy the needs of existing and future clients and the new challenges of
deepwater development.'
-ends-
27 June 2002
Notes to editors:
Wood Group is an international energy services company with more than $1.5bn
sales, employing more than 10,000 people worldwide and operating in over 30
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 and Production Facilities is a leading provider of
engineering design services for the development of new offshore oil and gas
fields as well as the enhancement, modification, operation and maintenance of
existing infrastructure in offshore and upstream onshore oil and gas
facilities.
Wood Group Production Services is part of Wood Group Engineering and Production
Facilities and comprises Coastal Production Services, Production Systems Inc.,
ProSafe Inc., RMC Technology Corp., and Operators & Consulting Services Inc.
WGPS provides total support capabilities-including qualified personnel,
integrated services, navigation aids and safety systems, compressor and engine
maintenance, and customized state-of-the-art supervisory control and data
acquisition (SCADA) and systems integration services- to Gulf of Mexico inland,
shelf and deepwater operations.
For enquiries please contact
Alan Semple, group finance director, Wood Group
Tel: +1 713 828 3534, e-mail: alan.semple@woodgroup.com
Chris Watson, group financial controller, Wood Group
Tel: +44 (1224) 851440, e-mail: chris.watson@woodgroup.com
Carolyn Smith, corporate communications manager, Wood Group
Tel: +44 (1224) 851099, mobile: +44 (0) 7775 620633, e-mail:
carolyn.smith@woodgroup.com
Bobbie Ireland, director - corporate communications - Americas, Wood Group
Tel: +1 281 828 3505, mobile: +1 713 515 3571, e-mail:
bobbie.ireland@woodgroup.com
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