Wood secures Saudi Aramco contract

Wood Group has secured a five year, multi-million dollar framework agreement to continue to provide engineering and project management services to Saudi Aramco's onshore capital programmes in Saudi Arabia.

Effective immediately, the contract also includes three, one-year extension options and will be delivered locally in Saudi Arabia. First awarded in 2010, the general engineering service plus (GES+) contract extension will be supported by Wood Group's office in Al Khobar.

Chief executive for Wood Group's asset life cycle solutions business in the Eastern Hemisphere, Dave Stewart, said: This contract renewal demonstrates Wood Groups proven technical and engineering capabilities in working with Saudi Aramco to deliver projects and modifications, automation and control, pipeline and industrial engineering over the last five years.

"Wood Group sees significant growth opportunities in the Saudi Arabian market which is reflected in our continued investment in our people in the region; establishing a dedicated training facility and employing 750 people to support our business.

"We will use our strong asset knowledge and experience of working collaboratively with Saudi Aramco as we continue this contract, where our focus will remain on delivering technical solutions which meet their challenges and add value to their onshore portfolio in the region."

At 2:23pm: (LON:WG.) John Wood Group PLC share price was -15.25p at 879.25p