Wood Group Wins Major Aramco Contract
Wood Group Pressure Control has received two contracts from Saudi Aramco for the long-term supply of wellhead assemblies and valves. The contracts cover the sale to Aramco of various wellhead assemblies and valves from several Saudi Aramco approved WGPC facilities around the world, and the establishment of an in-Kingdom manufacturing facility to supply Saudi Aramco's onshore and offshore oil and gas production well sites. The contracts are each for a minimum of five years.
The Saudi Arabia facility will be developed over the next 18 months through a joint venture with Al Hugayet Trading Establishment. The investment will be in excess of $15m and the facility will be a leading high-technology plant for the manufacture of oilfield equipment in the Kingdom. The facility will be established in the Damman district of Saudi Arabia's Eastern Province and will provide jobs, career opportunities and training for Saudi nationals. The agreement will enhance the responsiveness to unexpected or fluctuating needs in Aramco's drilling program.
"WGPC has provided products and services to Saudi Aramco for over 10 years and these contracts mark a new level of in-country, operational commitment," said Scott Bender, president. "We look forward to the development, start-up and operation of the new Dammam facility and to performing a vital role in the continuing industrialization of Saudi Arabia."
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