Wood Group wins contract at Statoil gas processing plant

Wood Group has won a contract worth 500m Norwegian krone (£41m) for engineering modifications and upgrades to Statoil's Kollsnes process plant near Bergen.The work includes front-end engineering design, procurement and management assistance to expand plant capacity and engineering, procurement and management assistance to update the electrical, instrumentation and control systems.Wood Group's Mustang division has already started work on the project, which is set to last through to 2017.The Kollsnes natural gas processing plant processes gas from the Troll, Kvitebjørn and Visund fields in the North Sea and currently provides almost 40% of Norwegian gas deliveries.The plant is expected to be one of the largest in the world, with capacity to process 144.5m cubic metres of gas per day."Wood Group Mustang's onshore engineering expertise combined with our knowledge and experience with Statoil is enabling us to provide a competitive technical solution for the Kollsnes plant," said Otto Søberg, president of Wood Group Mustang Norway.Wood Group shares were down 0.2% at 618.54p in early trading on Friday.