Wood Group PSN awarded five-year contract in Gulf of Mexico

Wood Group, the FTSE 100 energy services giant, has announced its PSN business has scored a contract to deliver operations and maintenance services to Hess Corporation's Baldpate production platform in the deepwater Gulf of Mexico, under a new five-year agreement.

Wood Group, the FTSE 100 energy services giant, has announced its PSN business has scored a contract to deliver operations and maintenance services to Hess Corporation's Baldpate production platform in the deepwater Gulf of Mexico, under a new five-year agreement.

The company will also provide the services to Hess for the Tubular Bells and

Stampede deepwater facilities in the Mississippi Canyon and Green Canyon

regions of the Gulf of Mexico when they come on stream in the future. The

contract will lead to the creation of up to 100 new jobs in the region.

Wood Group PSN will develop a computerised maintenance management system (CMMS) to track the maintenance and repair of rotating equipment and maintenance parts. It will also manage the inventory of engineering parts.

Derek Blackwood, Wood Group PSN Americas President, said: "Hess is a valued customer to WGPSN. Since 1999, we have maintained contracts with Hess in the UK and in Equatorial Guinea, and we are pleased to have extended this relationship to the US Gulf of Mexico. We will recruit new employees to service this contract and are committed to developing a skilled and talented local workforce."

Wood Group PSN employs over 5,000 people in the US, working both offshore in the Gulf of Mexico and onshore servicing the conventional oil & gas sector and shale plays.

NR

Recommended

Has the “jam tomorrow” bubble popped already?
Stockmarkets

Has the “jam tomorrow” bubble popped already?

Fund managers have had a good year so far. John Stepek looks at what to expect from markets until year end.
6 Dec 2021
Three stocks that should profit from the dash for digital growth
Share tips

Three stocks that should profit from the dash for digital growth

Professional investor Christopher Versace of the Digital Infrastructure and Connectivity UCITS ETF picks three digital growth stocks to buy now.
6 Dec 2021
JD Wetherspoon: why investors should head to the pub
Trading

JD Wetherspoon: why investors should head to the pub

Pub group JD Wetherspoon is a solid operator, and is due a bounce when the pandemic eases. Matthew Partridge picks the best way to play it.
6 Dec 2021
Share tips of the week – 3 December
Share tips

Share tips of the week – 3 December

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
3 Dec 2021

Most Popular

Bubbles grow in global property markets as house prices continue to rise
Property

Bubbles grow in global property markets as house prices continue to rise

House prices grew by 6% in the year to mid-2021 in 25 global cities, with the German property market in particular showing signs of overheating.
3 Dec 2021
Investing in time
Sponsored

Investing in time

SPONSORED CONTENT – Watch collecting can be addictive and expensive, but it can also be a very sound investment strategy
3 Dec 2021
Three safe bets on the growing online gambling sector
Share tips

Three safe bets on the growing online gambling sector

Professional investor Aaron Fischer, creator of the Fischer Sports Betting and iGaming ETF, picks three of his favourite online gambling stocks.
29 Nov 2021