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."
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
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.
BC
-
Investors should plan for an age of uncertainty and upheavalTectonic geopolitical and economic shifts are underway. Investors need to consider a range of tools when positioning portfolios to accommodate these changes
-
Investing in UK universities: spin research into profitsUK universities are a vital economic asset, but they are also Britain's 'equivalent of Gulf oil.' There are opportunities here for investors
