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Wood Group wins contract with Aramco and SABIC

Thu, 8th Mar 2018 17:16

(ShareCast News) - Wood Group has won a new contract to develop the world's largest crude oil to chemicals complex in the Kingdom of Saudi Arabia for Saudi Aramco and SABIC.

The energy services company will provide front end engineering design and project management services during the engineering, procurement and construction phase, supporting the development of the complex that is expected to process 400,000 barrels a day and around nine million tons of chemicals and base oils annually.

The contract, which is expected to continue through to the start of operations in 2025, will be executed from Wood's Reading and Al-Khobar offices.

Chief executive Robin Watson said: "We are proud to have been selected to be a contractor with Saudi Aramco and SABIC to deliver this significant greenfield onshore facility that will be a first for Saudi Arabia and among the first in the world to integrate the refinery and chemical process in this way.

"Wood has a strong track record of successful delivery for both customers across their broad project portfolios. We will leverage our diverse capabilities, from design to EPC, to support the evolution of the facility at each phase. Our commitment is to combine our ingenuity, global expertise and local knowledge to ensure the safe, successful and timely delivery of this mega-project."

Shares in the company closed down 0.4% at 630.80p.

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