Wood has been awarded a multi-region engineering services contract by bp to support efficient and safe energy production through the provision of asset repairs, modifications and enhancements.

The five-year reimbursable contract, valued at around $350m, will be delivered via agile working methods to optimise cost and delivery performance, enabling operational efficiencies to be realised across bp’s offshore installations.

This agreement renews Wood’s existing contracts in the regions to support bp to produce energy safely, efficiently, and reliably, as the world contends with the dual challenges of energy security and transition.

Craig Shanaghey, Executive President of Operations at Wood, said: “This opportunity is exciting for Wood because it has allowed us to think big, knowing that with bp’s own bold ambitions, we can help meet the world’s energy needs as efficiently as possible. Being able to truly leverage the breadth of experience and capability from right across our business will allow us to provide a solution that delivers transformational results."

“We have an extensive track record with bp and, for the first time, this multi-region approach allows us to combine these contracts into one single delivery model that puts exceptional execution, innovation, and simplification at its heart.“

Brian Chalmers, responsible for Wood’s global relationship with bp and President of Strategy and Development for Operations, said: “I am delighted that we will have the opportunity to drive a step change in the performance of bp’s offshore portfolio.

“We have proven that when we work in partnership, we can deliver transformational outcomes that support bp’s ambition to drive higher efficiency and productivity across their assets.”

This multi-region contract will be led by Wood’s Operations business unit with a centralised contract management team and local delivery teams, supported by Wood’s global execution centre.

About Wood

Wood is a global leader in the delivery of project, engineering and technical services to energy and industrial markets. We operate in more than 60 countries, employing around 55,000 people, with revenues of over $11 billion. We provide performance-driven solutions throughout the asset life-cycle, from concept to decommissioning across a broad range of industrial markets including the upstream, midstream and downstream oil & gas, chemicals, environment and infrastructure, power & process, clean energy, mining and general industrial sectors.

About bp

bp (NYSE:BP) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.