25/Apr/2014 - Last News Update: 05:47

Wood Group in new Angola venture

Category: Scotland

Published: 30th Nov 2011 11:02:28

Wood Group's new Angola-based joint venture (JV) has been boosted by a multi-million pound order from BP.

The energy services provider said the contract won by Wood Group Kianda involved maintenance work at BP's fields in offshore Angola.

The JV has been formed in partnership with the Aberdeen firm's Angolan business partner, Amilcar Nascimento.

Group companies Wood Group Mustang, Wood Group Kenny and Wood Group PSN will provide services through Kianda.

The BP contract is understood to run into tens of millions of pounds.

News of the deal came as Wood prepared to launch the new joint venture in Luanda.

The joint venture has been set up to provide a range of services including engineering, design, procurement, maintenance and support services to the Angolan market for process facilities, subsea developments and pipelines.

Angola is one of Africa's largest oil producing nations and one of the continent's fastest-growing economies.

Wood Group Kianda Ken McLennan said the JV reinforced the company's presence and long-term commitment to Angola.

Earlier this month, Wood Group announced a new contract worth £500m with Talisman Energy.

The new five-year deal will see the firm provide operations and maintenance services on all 11 of Talisman's UK offshore platforms and at the Flotta oil terminal on Orkney.

The contract is worth £90m per year, with an option to extend for a further five years.

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BBC News, 2011. Wood Group in new Angola venture [Online] (Updated 30th Nov 2011)
Available at: http://www.ukwirednews.com/news/206576/Wood-Group-in-new-Angola-venture [Accessed 25th Apr 2014]

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