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.

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

Stampede deepwater facilities in the Mississippi Canyon and Green Canyon

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

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