Woodgroup to create 250 jobs with $400M Statoil deal
The Aberdeen-based firm has announced that the Mustang Norway division will supply maintenance and modification services to four Statoil installations in the Norwegian continental shelf including:- Grance, Snorre A, B and Visund.
The deal, worth about $400 million (£266m) will run for six years, with the option of a four-year extension.
This news comes after Woodgroup claimed it was confident of meeting its profit targets despite the current challenging conditions within the oil and gas industry. Earlier in the year Woodgroup announced it was cutting around 5000 jobs including 1000 in the UK to alleviate costs within the plunging oil prices.
Wood Group Mustang Norway will also have the capability to tender for individual projects for Statoil operated onshore and offshore installations in Norway, under a ten-year agreement that starts in the first quarter of next year.
Otto Søberg, president of the division, said: “This is a breakthrough for Wood Group on the Norwegian continental shelf and we look forward to building on our existing relationship with Statoil.
“The work secured will call for a considerable build-up of the offices in Bergen and Stavanger and we will undergo a recruitment campaign to enhance our key talent and bring the best expertise to the projects.”