Member Info for Dazpink

JO

Pardon me if I missed it, but when did the BOD of Wood recommend a rights issue if the Sidara bid was rejected ?

The possibility of a rights issue was mentioned as a potential alternative, but not as a plan the board was pursuing

Also a lot has changed since the initial audit, when the YE results come out we will know exactly what the figure is if any that WG require as capital immediately.

I have just seen this RNs, fantastic news, well done to KG and Wood, this is the first of many huge contracts that will fall WG’s way.

Current situation is that Sidara really need to revisit on what it is prepared to pay if it seriously wants the business.

The company doesn’t need Sidara, Sidara needs Wood.

AGM is on 18 June 2025

On LinkedIn today, I feel very positive with what lies ahead.

Coming off a relaxing EID break with the family, I'm feeling refreshed and ready to tackle the next few months.

Over the weekend, LinkedIn reminded me of a work milestone – my 14th work anniversary at Wood. Reflecting on the last 14 years, there have been countless memories, learnings and achievements, and I'm excited about what lies ahead.

Last week, I had the pleasure of returning to Basra, Iraq, where I spent time with the team discussing our latest growth plans and meeting with clients. This has given us plenty of opportunities to think about and plan for the coming weeks....watch this space!

Hopefully everyone checked out our latest contract wins in Iraq that we announced last month - https://lnkd.in/ezwDSuWf

Wishing everyone a productive and successful week ahead! 🚀

New Executive President of Projects at Wood appointed

https://www.woodplc.com/news/latest-press-releases/2025/new-executive-president-of-projects-at-wood-appointed

WG will benefit from this.

The owner of British Gas has agreed to a ten-year deal worth more than £20 billion with a Norwegian energy giant to secure gas supplies, in a demonstration of the UK’s continued reliance on fossil fuels as North Sea production winds down.

Centrica said the agreement with Equinor, which is due to begin in October, will deliver five billion cubic metres of gas annually until 2035, representing about 10 per cent of UK gas demand and enough to supply approximately five million homes.

The deal underlines the enduring need for gas supply beyond 2030. This is the date set by the government to decarbonise Britain’s electricity system by 95 per cent through a dramatic transition towards renewable energy generation.

The government wants to reduce the UK’s use of gas, However, about 70 per cent of UK homes are still heated using the fossil fuel while gas-fired power plants account for about a quarter of the country’s electricity supply.

The deal replaces a previous decade-long supply contract between the two companies running from 2015 to 2025. Equinor and Centrica have been working together since 2005.

In 2024, the UK imported almost two thirds of its gas demand, with half of the total imports coming from Norway.

Chris O’Shea, Centrica’s chief executive, said: “Most people don’t appreciate just how much we rely on our friends in Equinor, friends in Norway, for energy security in the UK

Norway has increased its supplies to Europe since flows from Russia to Europe were curtailed after Russia’s invasion of Ukraine in 2022. The war and resulting sanctions on Russia disrupted energy markets and drove up prices, with the impact still being felt by consumers and businesses.

Britain’s North Sea fossil fuel production has declined sharply since its peak in the late 1990s and the government has said it will not issue any new oil and gas licences as part of its efforts to meet climate goals.

The contract includes an option to transition from natural gas to hydrogen — which does not emit carbon dioxide when burned — if the embryonic market for hydrogen takes off.

The deal represents a significant investment in the UK’s future, showing that Centrica will make bold investments that drive forward the energy transition while delivering value for our shareholders. We will continue to focus on further improving energy security by working with the UK Government to ensure the right levels of gas storage are in place to complement this landmark gas importation agreement.

I did, shame he has gone down to those levels.

JO , I wish, not there, it comes up on LinkedIn, I follow WG, Sidara, KKR and Apollo Global Management to see what is current. Gives you an insight to other things that are not RNS related.

Wood are here to stay

Sharing his insights on accelerating international energy growth at the Energy Exports Conference in Aberdeen on Tuesday, Steve Nicol, Executive President of Operations, discussed enablers for growing global energy capacity to meet the surging level of demand.

As part of the opening plenary, Steve laid out the solutions and enablers the industry needs to ensure sustainable growth, with people at the centre.

🗨️ "It’s our people, our global workforce, that binds it all together. The people who design, build, operate and future-proof the infrastructure that keep the lights on. They are the real engines of international growth."

Arun Menon, Business Development Director in Projects, shared how Wood is unlocking success in sustainable aviation fuel project delivery. Additionally, Craig Melville, Business Development Director in Operations, provided an update on our global projects and the opportunities for the supply chain, which are critical to delivery

Didn’t know this, nice to see also in the Caribbean region.

Massy Wood Group Ltd. (Massy Wood) is a joint venture company, owned by the Energy division of Massy Holdings Ltd., and Wood PLC, a global leader in consulting and engineering across energy and the built environment.

Massy Wood provides a range of brownfield and greenfield services to clients in the oil and gas, petrochemical, LNG, infrastructure, utilities and clean energy sectors and is strategically poised to be the premier partner delivering integrated and sustainable energy solutions to the Caribbean region.

Massy Wood attended the annual Caribbean Sustainable Energy Conference hosted this week (June 2-4) by the Trinidad and Tobago Energy Chamber. Our CEO and Chamber Chair, Mala Baliraj, delivered the opening address, setting the tone for discussions on this year's theme: "Adapting and Recalibrating".

Mala stated that, while some economies have scaled back on their sustainability commitments, clean energy investments soared past $2 trillion in 2024, proving that momentum is still strong. Closer to home, the Caribbean continues to advance ambitious renewable energy goals, from Barbados' drive for 100% renewables and Guyana’s focus on its Green State Development Strategy, to Trinidad & Tobago's largest grid-scale solar project set to launch this year. However, according to Mala, the challenge remains —implementation lags behind ambition, and the time for action is now!

Mala reinforced the power of collaboration which remains crucial as the world navigates the energy transition. If we are to make real, lasting progress, the need for cross-sector and cross-country partnerships is stronger than ever. She highlighted the Energy Chamber's continued dedication to bring together experts from the heavy industry, fossil fuels, renewable energy and energy efficiency sectors, to address complex challenges and effect meaningful change.

In her closing remarks, Mala encouraged attendees to bring their passion, knowledge, and determination to overcome the barriers that can hinder our sustainability journey. We must adapt, recalibrate, and collaborate to achieve a truly sustainable energy future for the Caribbean.

At Massy Wood, sustainability is a commitment. We remain dedicated to pursuing low-carbon solutions, fostering strategic partnerships, and driving impactful initiatives that ensure long-term resilience for our region.

Day 2 - EIC (Energy Industries Council)

Energy Exports Conference in Aberdeen.

Another great opportunity for networking and behaviour change conversations in the energy sector.

Great speakers today also from Worley Wood Fluer

#networking #opportunity #leadership #behavourchange #energyexports #franklincovey

WG Bod playing with Sidara, the RNS stated that Wood's board is considering the offer and has indicated it would be minded to recommend it to shareholders if terms are agreed.

Things can change very quickly, WG are in a stronger position now than when the review was completed.

Lightnotheat, Sidara have never been forced by the lenders to put funds in, it is only putting capital in to allow them to pay less initially. It seems to me to be creative accounting.

WG will publish accounts very soon to include adjustments for the past 2 years.

Yes, KKR does buy out companies

October 29023

OMV and Wood sign collaboration agreement for commercial licensing of OMV´s ReOil® technology.

https://www.omv.com/en/media/press-releases/2023/231003-omv-and-wood-sign-collaboration-agreement-for-commercial-licensing-of-omv-s-reoil-technology

On LinkedIn today

Wood

We were delighted to attend the official inauguration of OMV's ReOil® and 10 MW Green H2 groundbreaking facilities last week.

In 2023, Wood entered a collaboration agreement with OMV for the commercial licensing of ReOil®, a patented technology that converts end-of-life plastics to close the loop on plastics.

Aligning with OMV's new motto "To transform, we innovate. To innovate, we collaborate", Wood brings world-leading expertise in engineering and process technology licensing to enable the ReOil® collaboration.

#OMV officially inaugurated its flagship ReOil® and electrolyzer facilities at the Schwechat refinery near Vienna.

The proprietary ReOil chemical #recycling plant converts hard-to-recycle plastics into virgin-quality products, driving circularity and reducing environmental impact. The new 10 MW electrolyzer facility has a production capacity of up to 1,500 tons of green #hydrogen annually and is the biggest of its kind in Austria. The two pioneering technologies took center-stage at OMV’s event “From Innovation to Impact: Forward for Good”

Furthermore, OMV has made the final decision to invest a mid-three-digit million-euro sum in a new flagship #greenhydrogen plant in Bruck an der Leitha, Lower Austria. There, OMV plans to build a 140 MW electrolysis facility, subject to and under the assumption of a positive outcome of the European and Austrian Hydrogen Bank auction. With an annual production capacity of up to 23,000 tons of green hydrogen, the new plant will be one of the largest of its kind in Europe.

On AI Overview, fingers crossed it happens

KKR, a major private equity firm, has been linked to a potential takeover bid for John Wood Group. While KKR is known for its significant investments in various industries, including energy and engineering, there are conflicting reports about KKR's specific involvement with John Wood Group. Some sources suggest KKR is currently interested in a takeover, while others indicate KKR has previously been involved in discussions with Wood, but may have withdrawn their interest

Some reports suggest KKR is actively considering a bid for John Wood Group, potentially seeking to acquire the entire company or a significant portion of its shares

Thanks Sheeponfire, that’s good news, it is a big issue out of the way.

Ok Kando

KG pledged to sell up to $200mn in assets to boost its free cash flow in the feb update, we will see what this means shortly.

Also the company will be positive free cash flow in 2026.

June will be a good month, new contracts, AGM, Sidara’s bid or not and results end if the month, no dilution so far all positive to me.

Wood Group accelerates asset sales after profit warning

https://www.scottishfinancialnews.com/articles/wood-group-accelerates-asset-sales-after-profit-warning

John Wood Group PLC, now known as Wood, has recently completed the sale of EthosEnergy, a joint venture focused on rotating equipment, for $138 million in net cash. This sale is part of Wood's strategy to simplify the group and focus on its core business. EthosEnergy was a joint venture with Siemens Energy. The sale was completed on December 31, 2024