Wood Secures Multi-Year Services Deal with Shell
Posted 02/08/2023 13:42
Engineering company Wood has been awarded a multi-year enterprise framework agreement to provide continued services for Shell's global projects. The agreement encompasses conventional energy projects and transition projects in the carbon capture, low-carbon fuels, and hydrogen sectors. While the value of the contract has not been disclosed, it will cover a range of services, including consulting, engineering procurement, project management, and expertise in decarbonization, digitalization, and asset life extension.
The three-year framework, with options for two one-year extensions, will enable Wood to support Shell's greenfield and brownfield projects worldwide. Services will be provided by Wood's consulting and engineering teams in Europe, North America, Latin America, South-East Asia, Australia, and the Middle East.
This new agreement strengthens the longstanding relationship between Shell and Wood, which spans over 70 years and has involved collaboration in more than 20 countries and numerous major projects. More than 500 Wood employees currently support Shell's onshore and offshore energy operations in the UK across four contracts, including a significant award secured in 2021 for onshore and offshore infrastructure.
Wood's CEO, Ken Gilmartin, expressed enthusiasm for the award and highlighted their expertise in complex project excellence. He also emphasized their alignment with Shell in achieving strategic ambitions to meet the world's energy needs while driving the energy transition forward. Wood looks forward to continuing the partnership with Shell to design a better energy future together.
This latest development comes after Wood's positive half-year trading update, where the Aberdeen-based company reported nearly $3 billion in revenue and an order book of nearly $6 billion. With significant contract wins, the group increased its workforce by 5%, bringing the total headcount to 35,600 people.