Energy services firm Wood Group has been awarded a multi-year engineering, procurement and construction management (EPCM) framework agreement by Shell Oil Products US.
The agreement has been awarded to Wood Group's Mustang division which works provides EPCM services to the upstream oil and gas, refining and chemicals, pipeline, automation and control, and industrial markets. It refers to Shell's pipeline and terminal projects located in the Gulf Coast region.
"We are very pleased to have been awarded this contract by Shell Oil Products," said Steve Knowles, President of Mustang. "I believe our full-service pipeline capabilities will provide excellent project support to Shell."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Mustang has worked on Shell pipeline projects over the last decade. The EPCM projects will include gas and liquid pipelines and related facilities such as pump and compressor stations, meter stations and dehydration units. Work has begun on initial projects in Louisiana and Texas.
Shares were up 0.14% at 715.5p by 08:33 on Thursday.
Who is the richest person in the world?
The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
By Vaishali Varu Published
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
By Ruth Emery Published