Scotland-based consulting and engineering company Wood has agreed a three-year enterprise framework agreement to continue to provide services to Shell’s global projects, with a focus on carbon capture, low-carbon fuels and hydrogen, as well as oil and gas.

Under the agreement, which includes options for two one-year extensions, services will be provided by Wood’s consulting and engineering teams in Europe, North America, Latin America, Southeast Asia, Australia and the Middle East, covering Shell’s greenfield and brownfield projects.

“Complex project excellence is where we excel and we are aligned with Shell in our strategic ambitions to deliver the energy the world needs today while simultaneously delivering the energy transition at pace,” said Ken Gilmartin, Wood’s CEO.

The agreement with Shell, which extends a 70-year relationship between the two companies, follows a turbulent period for Wood. Its share price fall sharply in May when New York-based private equity group Apollo abandoned its efforts to buy the Aberdeen-based company, which is one of the North Sea’s largest oilfield services providers.

Wood’s revenue in the first half of the year was up by around 15% year-on-year, with the company reporting “good growth in all business units”, according to a recent trading update.

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Author: Stuart Penson