May 22, 2024
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OIL & GAS RENEWABLE ENERGY

Wood, Harbour Energy Sign New $330m Strategic Partnership

Wood Group and Harbour Energy (Harbour), the UK’s largest oil and gas producer, have entered into a new strategic partnership for UK North Sea operations agreeing to a new master services agreement (MSA) and associated contracts valued at around $330 million.

This is contained in a press statement by Wood PLC on Monday, explaining that under this new agreement, Wood will provide engineering, procurement and construction (EPC) and operations and maintenance (O&M) services, including digital and decarbonisation solutions, for a number of Harbour’s offshore assets critical to UK energy security.

The strategic partnership will run for an initial term of five years, with five one-year extension options covering Harbour’s operated assets, including its J-Area, Greater Britannia Area, Solan and AELE (Armada, Everest, Lomond and Erskine) hubs.

Steve Nicol, Wood’s Executive President of Operations, said: “We are incredibly proud to have been selected and trusted by Harbour Energy to partner with them across their North Sea assets. We share a commitment to ensuring safe, reliable and sustainable energy production. We are confident our integrated digital solutions and world-leading engineering, operations and decarbonisation expertise will enable Harbour to maximise its investment and ensure the UK continues to have the energy mix it needs.

“We have worked on North Sea assets for more than 50 years and excel in designing and managing the complexity of energy infrastructure while at the same time seeking to minimise 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, where our priority is to help our clients deliver the energy the world needs and be able to transition to a low carbon future.”

In his remark, Audrey Stewart, Harbour Energy’s Vice President of Supply Chain, said: “Harbour is excited to develop our relationship with Wood and the signing of this contract is an important step forward in establishing our suite of long-term strategic partnerships across our North Sea assets.”

The statement added that the partnership will support the employment of hundreds of people from Wood’s Operations business in Aberdeen and offshore across the two EPC and O&M contracts, with further recruitment expected in 2024.

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