Wood Group wins major extension to North Sea contract
Energy services giant Wood Group has received a 'significant' three-year extension to its North Sea contract with CNR International, the firm announced on Wednesday.
Energy services giant Wood Group has received a 'significant' three-year extension to its North Sea contract with CNR International, the firm announced on Wednesday.
Wood Group's PSN division (WGPSN), which provides brownfield services to the oil and gas industry, has been working on the contract since 2005 and the extension is effective immediately.
WGPSN provides project management, engineering, construction and general commissioning services on CNRI's Murchison, Tiffany, Ninian North, Central and South platforms in the North Sea.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"This is a major contract extension and enables us to secure employment for 200 offshore personnel and 250 onshore employees, working from our offices in Aberdeen, Runcorn and Hull. We look forward to continuing our long term working relationship with CNRI."
WGPSN now employs more than 8,000 people working onshore and offshore in the UK.
The news comes after a impressive week of contract wins for Wood Group.
The company announced on March 20th that it had secured 11 new contracts in Africa across five nations worth $240m. It also revealed on Monday that Caltex Australia had extended its refinery maintenance contract by 18 months, worth an extra AUD45m ($47m).
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Wallester Business: Simplify financial workflows with unlimited corporate cards
Make messy expense reports and card sharing chaos a distant memory with Wallester Business, an all-in-one corporate card and expense management platform
-
How to sell a property that floods – ways to avoid a 31% hit to your asking price
Flood risks can knock up to a third off the value of your home when you come to sell but there are ways to soften to blow