Wood to Continue Delivering Engineering and Marine Services to Brunei Shell Petroleum in $250 Million Contract Extension

Wood to Continue Delivering Engineering and Marine Services to Brunei Shell Petroleum in $250 Million Contract Extension

(IN BRIEF) Wood, a leading global consulting and engineering firm, has secured a contract extension worth approximately $250 million from Brunei Shell Petroleum (BSP), the largest energy producer in Brunei. The two-year extension focuses on rejuvenating BSP’s offshore energy assets to maximize production capacity and efficiency. Wood will provide brownfield engineering, procurement, construction, and commissioning services, as well as manage BSP’s offshore marine fleet. The contract, delivered by Wood’s Operations business unit, aims to optimize production while reducing emissions. With a commitment to investing in the local workforce, Wood employs around 1,500 skilled employees, 65% of whom are from Brunei. The extension until February 2026 will see Wood delivering services to BSP’s top 20 offshore installations, responsible for 80% of the company’s oil and gas production. The work will be carried out by Wood’s teams in Brunei, supported by their offices in Kuala Belait and Manila, Philippines.

(PRESS RELEASE) ABERDEEN, 3-Jul-2023 — /EuropaWire/ — Wood PLC, one of the world’s leading consulting and engineering companies operating across Energy and the Built Environment, has been granted a contract extension valued at approximately $250 million (USD) by Brunei Shell Petroleum (BSP), the largest energy producer in Brunei. This two-year extension will primarily focus on the ongoing revitalization of BSP’s offshore energy assets, with the aim of optimizing production capacity and operational efficiency.

Under this contract, Wood will provide brownfield engineering, procurement, construction, and commissioning services, as well as manage BSP’s offshore marine fleet. The main objective of Wood’s work is to enhance the production capacity of these assets while minimizing associated emissions. This cost-reimbursable contract will be executed by Wood’s Operations business unit.

Ken Gilmartin, CEO at Wood, commented: “Wood is pleased to continue supporting BSP’s offshore assets in the next phase of its rejuvenation project to upgrade core assets, which account for around 80% of BSP’s production, making this work critically important to the company.

“This extension shows progress on our strategy; which focuses on reimbursable projects and complex work in critical industries; that we laid out last year and demonstrates the strength of our relationship with an important client in a key region. It is also testament to our track record of performance excellence, safe operations and innovative technical expertise. The award also highlights our continued focus on ensuring energy security across the region whilst minimising the environmental impact of doing so.”

Wood is dedicated to investing in the local workforce and capabilities through the Wawasan Brunei 2035 program, which aims to enhance employment opportunities and skill development for the country’s national workforce. With approximately 1,500 skilled employees, 65% of whom are local to Brunei, the company remains committed to this initiative.

With the extension now in effect until February 2026, Wood will deliver a comprehensive range of services to BSP’s top 20 offshore installations, which collectively account for around 80% of the company’s total oil and gas production. The contract will be executed by Wood’s teams in Brunei, with support from the company’s primary location in Kuala Belait and its office in Manila, Philippines.

SOURCE: John Wood Group PLC