Wood Group wins a £262 million contract with Harbor Energy that will create hundreds of jobs in Aberdeen

The Wood Group has won a contract with the largest oil and gas producer in the North Sea, which it says will create hundreds of jobs in the Aberdeen area.

The London-listed company said it has signed a five-year contract with Harbor Energy for $330 million (approximately £262 million).

In a statement, Wood said it will provide “engineering, procurement and construction and operation and maintenance services, including digital and low-carbon solutions, for a number of Harbor offshore assets critical to UK energy security.”

Steve Nicol, Wood’s Executive President of Operations, said: “We are incredibly proud to have been selected and trusted by Harbor Energy to partner with them on their North Sea assets.

“We share a commitment to ensuring safe, reliable and sustainable energy production and are confident that our integrated digital solutions and leading expertise in engineering, operations and decarbonisation will enable Harbor to maximize investment and ensure that Britain continues to have the energy mix it needs. .’

Last week, Harbor Energy revealed it had suffered a small loss in the first half as the impact of falling energy prices was exacerbated by high tax payments.

The largest North Sea oil and gas producer reported a loss of $8 million for the six months ended June, after making a profit of $1 billion in the same period last year.

The company saw its hydrocarbon production revenue fall by about a quarter to $1.99 billion, while oil and gas prices fell from their high levels.

Nicol added: ‘We have been working on assets in the North Sea for over 50 years and excel at designing and managing the complexity of energy infrastructure, while at the same time seeking to minimize associated emissions.

“This new agreement and new contracts are a testament to Wood’s role as a trusted technical partner to the energy companies of the future, with our priority being to help our customers deliver the energy the world needs and be able to transition to a low-carbon future. ‘

Audrey Stewart, Harbor Energy’s vice president of supply chain, said: ‘Harbour is delighted to be developing our relationship with Wood and the signing of this contract is an important step forward in establishing our package of long-term strategic partnerships for our North Sea assets . ‘

This partnership will support the employment of hundreds of people from Wood’s Operations in Aberdeen and offshore through the two EPC and O&M contracts, with further recruitment expected in 2024.

Port Shares rose 0.55 percent to 255p in Monday afternoon trading.