An agreement has been signed between energy services provider Wood Group and Agility Group for the sale of its subsidiary, Agility Projects.Wood Group will pay around $164m for business, which is focused on activities on the Norwegian Continental Shelf (NCS) and employs 650 personnel across Norway. The acquisition, which is still subject to a number of conditions, is expected to be completed in the third quarter of 2014. Steve Knowles, Chief Executive Officer (CEO) of Wood Group's Mustang business, said: "Agility Projects's reputation is very well-established in Norway and represents a strategically important acquisition for Wood Group Mustang as it increases our exposure to the greenfield and brownfield engineering markets on the NCS. "Agility Projects complements Wood Group's existing engineering activities in Norway and recently we successfully collaborated in winning the Ivar Aasen topside engineering project in Norway."Agility Projects will operate within Wood Group Mustang's offshore business and will be headed up by the current Agility Group CEO, Otto Søberg, together with the existing Agility Projects management team. NR