Wood extends two-decade long relationship with Equinor

Source: press release, 11 February 2022

The Snorre A platform in the North Sea
The Snorre A platform in the North Sea (photo: Equinor ASA/Bo B Randulff – Even Kleppa)

Wood, the global consulting and engineering company, will extend its two-decade long relationship with international energy company Equinor following the award of a 3-year contract extension to support the company’s assets on the Norwegian Continental Shelf.

The contract extension, valued at around USD 170 million, continues an existing multi-asset framework agreement with Equinor, which was initially awarded in 2015 and will now extend through to 2026.

Wood will work with Equinor to ensure reliable, safe, and responsible operations across the company’s Snorre A, Snorre B, Grane, Visund and Martin Linge assets, while improving efficiency and evaluating opportunities to decarbonise production.

Craig Shanaghey, Wood’s President of Operations across Europe, Middle East and Africa, says, “I am proud to be further extending our relationship with Equinor, one that is built on a foundation of trust and confidence in our delivery. Over the past 20 years or so, we have had the opportunity to work with Equinor across a multitude of their onshore and offshore assets which have played a critical role in the global energy mix, ensuring the supply of secure and affordable energy in the face of unrelenting demand.”

“It is exciting to have the opportunity to continue to strengthen our relationship and leverage our global capabilities to drive down production costs, reduce the carbon intensity of operations, and evaluate the role these assets can play in the journey towards a net-zero future,” Shanaghey continues.

Lars Fredrik Bakke, Wood’s Vice President of Norway Operations, adds, “Our relationship with Equinor is a real pride point in our portfolio and I am energised by the opportunity to continue to build on our collective success to date.”

“With more than 400 Wood employees supporting the operations of these assets, this 3-year extension provides job security as well as further opportunities to increase the efficiency and productivity of these important assets,” adds Bakke.

This framework agreement will continue to be delivered by Wood’s existing teams across Norway, with support from the company’s global experts.