Member Info for Bob182071

@stew

You’ve flip flopped massively from your last post the other day. 🤣🤣🤣🤣🤣

@ice

Just when I’d completely detached myself from the company, they go and pull me back in.

This is the kind of news that us longs have been waiting for. 😍😍

Stew,

Hate to tell you, but you’ve just typed about absolute nonsense my man.

Wyndrum,

There is no 35p offer on the table. Nothing has been offered so there’s no “accepted”.

An offer may become a reality when the figures are released but there’s nothing on the table until that happens I’m afraid.

All,

I’m offshore for my final trip before leaving here. We’ve just been visited today by a very high ranking HSE manager with wood who is going round installations to speak with all the Wood teams about HSE performance and the likes and was happy to take any concerns away and also give us updates on what’s happening. So here’s what I got from it:-

- Sidara are still at the table and like everyone on here are sitting waiting for the results to be published before firming up an offer, been confirmed 100% they absolutely will not do anything until this process is completed.

- We are in this mess as a company cause of the previous CEO Robin Watson and his fantasy about acquiring AMEC just to win some clients that wood don’t have on their portfolio. Thus, not reviewing their state of AMEC properly having £2.2B of contracts haemorrhaging money all over the place.

- There will most likely be an extension come the 28th July or whenever the date is (apologies if that’s wrong, I was jotting everything down as much as I could). However, the auditors have confirmed that it is now “weeks” away before they can publish the figures. Confidence that the 1st August can be met, but to temper expectation add a couple of weeks onto that and we should be trading again. No comment about how the figures actually look even though it was asked a few times.

- FCA are apparently doing their bit in the background and haven’t uncovered anything (so far) that has raised any major red flags.

So there’s a wee bit of an update and timeline on things for people sitting waiting patiently.

There was 14 workers in the meeting so tried to get through as much Q&A as we could at the time, but that was all data I got from it chaps and chapesses.

Hey lads,

Just when you think this company can’t get any funnier, this happens. Email below this morning.

Anyway, I’ve handed in my notice today. I’ve had enough and been offered an excellent opportunity elsewhere so any insider detail will be sparse now. Wish you all well whatever comes out the back of all of this. 👋🏻👋🏻

Dear Colleagues,

We are writing to inform you of an important update regarding your tax code, In accordance with guidance received from HM Revenue & Customs (HMRC), a revision to employee tax codes was scheduled to take effect from 6th April 2025. While this notification was received in a timely manner, due to a system related delay in processing, the update was only applied during the July payroll cycle.

As a result, you may observe a variation in your PAYE (Pay As You Earn) deductions for this month. We understand that any unexpected changes to payroll can be concerning, and we sincerely regret any inconvenience this may cause.

Please be assured that we are reviewing the matter thoroughly and taking the necessary steps to ensure continued accuracy and compliance in payroll processing.

Would probably have been an RNS released stating they are close to issue, so highly doubt it.

Lot of chatter in the office about mid-August which seems a reasonable estimate. So here’s hoping.

Kando,

I’ve kind of lost interest in it all now to be honest. Thinking about a fresh start elsewhere to blow the cobwebs off and put my skills elsewhere. The current situation and behaviour by management has reduced a lot of very professional and skilled people to a shadow of their former self, myself included and think that’s the call to try something different me thinks.

If you want office sentiment, lot of rumours by mid August the numbers will be on full display, but that’s just from the rumour mill, but some very reliable people internally agree so take that as you will.

Rock,

It’s the same as it’s been for the past couple of months up at SIWH my man. Everyone is just battering on with the day to day. The contracts awards still keep rolling in, not bad for such an embattled company.

Projects (old and new) are still operating as they should. I believe they’ve lost a chunk of work with BP in the last few months, so personnel being dispersed onto other projects where suitable.

But make no mistake, the atmosphere at HQ is one of a broken relationship between staff and management and it’s getting worse. A few projects this week have seen people walking, like just packing their desk and away. Looks like a lot of people are just fed up by it all and see the benefits of looking elsewhere and who can blame them? Treated the workforce with disdain.

PS it’s not defensiveness at all. I’ve explained that working in O&G is incredibly volatile, it comes with the territory, hence why we’re so well paid in comparison to other parts of the UK. I’ve worked on production platforms, jack ups, semis and FPSO’s over a total of 22 years for various companies including wood. I speak from experience.

@kando

Completely understood that ROV’s are being used offshore. They’re even using virtual reality headseats to give 3/4D imaging of worksites and full assets.

But we’re talking about the people that keep the lights on, the oil pumping, gas releases down to a minimum and above all keeping people safe. This is where there’ll be a skills shortage in the market in the coming years for things like maintenance scopes, pit stops, shutdowns and outages. This has given birth to agencies to plug the skills gap, when it used to be the next production line was ready to go with their offshore careers, nothing like that now.

The argument (backed up by industry) is there’ll be a huge skills gap in the coming years and how is that plugged. Robotics can’t answer that one I’m afraid.

@poker

Absolutely not fearful at all for my job. Thing about Aberdeen is we operate in 5-6 year cycles to the next downturn, people save up for the inevitable when it happens so that it mitigates impacts on our daily lives. It’s always been this way in Aberdeen. Been in plenty of consultation periods, risk of redundancies etc. So not fearful at all, it’s just business at the end of the day and I don’t take things personally.

Like I said, you sound like you’ve never been offshore in your life and therefore maybe not that clued up to the intricacies of offshore life and that’s okay, but to say robotics will replace the workforce offshore is a bit silly I’m afraid. Again, if you don’t know the daily routine of everyone offshore, then maybe making such a wild statements without basis is ill advised, that’s all.

No air of superiority here. Happy to converse, but there will be a skills shortage offshore in the next 3-5 years, business and industry and even OPITO have acknowledged it. Plenty of people being driven away from the industry due to wages etc, plenty of data on it online. It’s just a fact.

@poker

seeing as you’re up for the continuation of talking **** can you please explain how robotics offshore will replace the people that contribute to the production of oil and gas?

what jobs will the robotics undertake and replace humans offshore doing?

@robert

He’s just speaking nonsense with absolutely no clue about offshore life on a live oil and gas installation.

It would be better if he just said that as opposed to making an idiot out of himself. Done a great job though. 🤣🤣

🤣🤣🤣🤣🤣 Imagine a robot holding a toolbox talk to the lads in the locker room and having a malfunction when people don’t agree with the control measures for the job?

@pokerchips is silly. Fair play for silliness though. Gave me laugh.

Copy and paste?

Poker is having a nightmare the last two messages.

Don’t be like poker.

Robotics offshore?

@poker it’s okay to say you’ve never worked offshore before my man. Cause you should be embarrassed writing that.

Robotics will never replace the offshore workforce from OIM’s straight down to pipefitters, platers, deck and the likes. On live oil and gas plants as well, electronics aren’t even allowed outside you donkey so please enlighten us how robotics will be allowed outside to perform work on a live installation? Hahahahahaha.

Never read so much nonsense in my life. Just let the people that work offshore who know what they’re doing take care of it. 👍🏻

@gonzo

half right i’d say. plenty of people approaching retirement age and deciding to remove themselves from the current ****show and bailing out, but at the same time there’s plenty of new (i can only speak with experience from o&g perspective) contracts kicking into gear which is where you’re seeing growth on the wood internal jobs board. a lot of it just depends when the projects start specifically, but it’s a mixture of all factors.

also, there’s other companies in aberdeen now offering better rates and prospects than wood depending on your skillset. i was going offshore two weeks ago and plenty of guys said the nuclear plant at hinkley point is paying £500 a day for riggers, pipe fitters and the likes. why you’d risk your life on a helicopter going offshore when you can get paid more and better shift patterns is beyond me! going to be a huge skills shortage offshore in the next 3-5 years cause rates aren’t like they used to be and it’s putting people off.

so it’s a blend to be honest. woods still got healthy prospects for the future from a contract win angle. keep the money in and operating contracts at losses to retain client relationships seems to be a real odd strategic decision in my view.

@poker

They’re absolutely world renowned at it!!!!! It is absolutely no way to keep the business sustainable long term and more importantly profitable. Working in house at their biggest O&G clients in the UK I’ve seen a horrendous amount of times when it comes to contract renewal time, Wood will literally cut their own throats to keep the business and relationship going. I understand entirely that they probably see loopholes to make some money within the contract other ways but long term, there’s no way that’s sustainable. This is one of the main contributors to where they are now. Let the business leave for a few years and then re-strategise and win it back as opposed to haemorrhaging trying to keep the work and being squeezed for cost savings by their clients.

Knock on of that all is employees don’t see annual raises that are commensurate of their work, lean headcount per project which means more work for less put on each employee.

The trust at SIWH is completely gone. If KG and others had some sort of moral bone in their body, they’d be following Roy Franklins lead and announcing a succession plan.

@kando

It’s cool my man. I take a risk with my trades and investments so this one probably won’t work out, but will see what unfolds. Out with this whole BB, the overwhelming majority of staff would like to see the numbers released, I think we can all unanimously agree here that transparency would be the least investors should expect.

If that says 35p is a fair and reflective price to get a deal done then so be it. I’ve got my own views on how things are being done in the background, but the cloak and dagger effort to suppress transparency leaves my 16 years of investing with a bit of a bad taste in my mouth personally.

But, life goes on.