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Wood Group wins major £477m BP contract | Wood Group wins major £477m BP contract |
(about 1 hour later) | |
A total of 150 jobs are to created by Aberdeen oil services firm Wood Group. | A total of 150 jobs are to created by Aberdeen oil services firm Wood Group. |
The company has been awarded a five-year £477m ($750m) contract with BP which will come into force next year. | The company has been awarded a five-year £477m ($750m) contract with BP which will come into force next year. |
It covers a number of offshore installations, the major Forties pipeline system, and onshore facilities in Grangemouth. | It covers a number of offshore installations, the major Forties pipeline system, and onshore facilities in Grangemouth. |
As well as creating the new jobs, the contract will also secure more than 700 existing positions. | As well as creating the new jobs, the contract will also secure more than 700 existing positions. |
The news comes amid a slump in oil prices in recent weeks, with Brent crude down to less than $65 a barrel. | |
Sir Ian Wood, who recently headed a government review into the North Sea oil and gas industry, said the oil price was a real issue, with jobs, assets and confidence at risk. | |
He told the BBC: "Even at $100 oil the industry was facing some pretty serious problems." | |
Sir Ian retired from his role as chairman of Wood Group in 2012. |
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