LONDON (Alliance News) - A John Wood Group PLC joint venture has won an eight-year contract in Kazakhstan's Kashagan oil field, the company said in a statement Thursday.
KTR-WG Turbine Services LLP, a joint venture between Wood Group GTS and KazTurboRemont, has been awarded a long-term service agreement by the North Caspian Production Operating Co in Kazakhstan.
The contract could be extended once the initial eight-year term is up. It covers the supply of parts, repairs, planned maintenance and supervisors in-country to manage the full scope of rotating equipment. No financial details were provided.
The joint venture will support the critical rotating equipment on the Kashagan project to develop the 5,600 square kilometre Kashagan oil field, Wood Group said.
The Kashagan oil field, discovered in 2000, is located in the northern part of the Caspian Sea.
"Working with KTR we will apply our proven experience in the gas turbine market to manage the scope of work for NCPOC. By offering a localised service KTR-WG is able to provide capital parts, repair and 24/7 field service engineers. Our integrated approach to managed maintenance services will assist NCPOC in ensuring high availability of their diverse portfolio of rotating equipment," Frank Avery, president of Power Plant Services for Wood Group, said in a statement.
Wood Group shares were Thursday quoted at 761.50 pence, down 0.5%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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