Wood Group PSN Secures Services Contract in Iraq

John Wood Group plc announced Thursday that its Wood Group PSN division has secured a contract, worth approximately $90 million, with a “leading” international oil company in Iraq to provide project management services for an onshore facility.

As part of the three year contract, which is effective immediately, WGPSN will also provide concept and FEED (Front-End Engineering and Design) work for future projects. The new contract will create more than 100 new positions and will retain 20 jobs, according to a Wood Group statement.

David Buchan, WGPSN's Eastern Europe, Russia, Caspian and Middle East (ERC & MER) managing director commented in a company statement:

“This major contract builds on our strong partnerships with clients in Iraq. We look forward to leveraging Wood Group’s international knowledge and expertise towards the continued success and development of our client’s facility. Iraq is an area where we see significant growth opportunities for our broad service capabilities and building our presence in this region is a key objective for us. This is reflected in our creation of another office in Dubai, which adds to our presence in the Middle East and our commitment to developing local talent, creating job opportunities and building relationships with the supply chain in Iraq.”