StockMarketWire.com - Wood Group has been awarded a major North Sea contract by Premier Oil to deliver integrated operations and maintenance support services to the Balmoral floating production vessel (FPV).

The contract, estimated to be worth in the order of £250 million, will see Wood Group provide managed onshore and offshore operations and maintenance services including management of selected procurement and logistics support to the Balmoral.

The semi-submersible production vessel is situated 122 miles North East of Aberdeen and services six fields namely, Balmoral, Stirling,Beauly, Brenda, Nicol and Burghley. The award to Wood Group is a life of field work scope, currently estimated to run until 2020.

Effective 1st May 2012, the contract allows Wood Group PSN to secure employment for over 70 offshore staff and create up to 15 full time onshore positions.

At 10:01am: [LON:WG.] Wood Group (John) share price was -0.75p at 739.75p


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