Wood secures $53m of contracts with ADNOC Onshore
12 November 2018
Wood secures $53 million of contracts supporting ADNOC Onshore
Wood has been awarded three new, call-off contracts totaling $53 million by ADNOC Onshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC).
Project management consultancy (PMC) services will be provided for major projects across the company's onshore fields in Abu Dhabi, aimed at supporting ADNOC's group-wide production capacity target of 4 million barrels of oil per day by 2020.
Creating around 100 new jobs in-country, the five-year contracts have one-year extension options available.
This win builds on Wood's successful track record of partnering with ADNOC, which spans over 40 years and has included multiple, significant PMC projects.
Dave Stewart, CEO of Wood's Asset Solutions business in Europe, Africa, Asia and Australia said: "Wood has a strong foothold in the Middle East and our strategic focus on continuing to broaden the capabilities we deliver to the oil and gas market in this region is demonstrated by these new contracts.
"We look forward to working closely with ADNOC Onshore to continue to deliver safe and effective services, applying our ingenuity and expertise to maximise production of its onshore assets in line with their 2030 strategy.
"We are focused on supporting in-country value and closer collaboration with the UAE supply chain, using local vendors for the purchase of goods and services. We are also committed to creating opportunities to nurture new industry talent in Abu Dhabi and the UAE, which will be central to our successful execution of this contract."
The contract will be delivered from Wood's offices in Abu Dhabi with support from the company's expertise globally.
-ends-
Note to Editors:
Wood is a global leader in the delivery of project, engineering and technical services to energy and industrial markets. We operate in more than 60 countries, employing around 60,000 people, with revenues of over $10 billion. We provide performance-driven solutions throughout the asset life cycle, from concept to decommissioning across a broad range of industrial markets, including the upstream, midstream and downstream oil & gas, power & process, environment and infrastructure, clean energy, mining, nuclear, and general industrial sectors. www.woodplc.com
For further information contact: press.office@woodplc.com
About ADNOC:
ADNOC is a major diversified group of energy and petrochemical companies that produces about 3 million barrels of oil and 10.5 billion cubic feet of raw gas a day. Its integrated upstream, midstream and downstream activities are carried out by 14 specialist subsidiary and joint venture companies. To find out more visit www.adnoc.ae.
For further information contact: media@adnoc.ae
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund