Wood Group awarded £500m offshore deal with Talisman

Aberdeen-based Wood Group has been awarded a new contract worth £500 million with Talisman Energy.

The new five-year deal will see the firm provide operations and maintenance services on all 11 of Talisman’s UK offshore platforms and at the Flotta oil terminal on Orkney.

The contract is worth £90 million per annum, with an option to extend for a further five years.

Talisman has also extended its existing engineering contract with Wood Group.

That deal is worth £50 million annually and will now run until the end of 2012.

Bob Keiller, chief executive of Wood Group, said: “We are delighted that Talisman has chosen to continue its long-term relationship with Wood Group PSN.

“This decision reflects the company’s successful delivery of Talisman’s requirements over the last eight years. We will build on this success by supporting Talisman in delivering its ‘operational excellence’ strategy to assure both our long-term futures in the North Sea.”