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Wood Group granted two contract extensions for African projects

21st January 2014

Wood Group PSN has been approved for two contract extensions,valued at $250 million USD, to deliver operations, maintenance and construction management services for ventures in Central Africa

WGPSN given a five year contract extension for services in central Africa

Wood Group PSN (WGPSN) has been given a five year contract extension to provide operations, maintenance and construction management services for asset facilities in central Africa. The deal is estimated at more than $140 million USD with a contract that will employ around 580 people.

The second contract extension was added to provide operations and maintenance services to assets in Equatorial Guinea, which will boost the company’s success in Africa.

This three year contract extension is valued at more than $110 million USD and secures employment for around 130 people both onshore and offshore. The contract was first presented to WGPSN in 2003.

Wood Group has also instituted a new joint venture in West Africa. Known as Wood Group Ghana Limited, the company would be would be jointly operated and led by Mr Kwaku Boafo Nyantekyi-Owusu, who will serve as president and majority shareholder.

This project will enable the group to bring integrated services and technical support services to the oil and gas sector in Ghana.

WGPSN managing director for Africa, James Crawford, said: "We are extremely proud of our performance in Africa. These contract renewals and our new joint venture are testament to the standards of the services we provide and our commitment to expansion and investment in Africa. Our focus centres on safety performance, consistent delivery, developing a competent and skilled local workforce and supporting the communities where we operate.”

Crawford added that the company is "focused on the continued development of our people, especially our local management teams in Africa. Today, nearly 90% of our maintenance contract personnel across the region are nationals."

The UK-headquartered company is a provider of brownfield services to the oil and gas industry.

In Africa, WGPSN hires more than 3,000 people working onshore and offshore. The company currently has projects in Algeria, Angola, Cameroon, Chad, Egypt, Equatorial Guinea, Ghana, Mozambique, Nigeria, South Africa, Tunisia and Uganda.

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