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Wood Group secures $2.8bn UAE project
(Sharecast News) - Wood Group said on Tuesday that it has been awarded a $2.8bn contract by ADNOC to deliver an engineering, procurement and construction management (EPCm) package for the long-term gas processing facilities at the UAE's Habshan facility. The contract value includes pass through revenue, with Wood expected to recognise about $400m of revenue through EPCm services.
Wood said its scope includes the delivery of substantial upgrades and debottlenecking solutions to the existing Habshan and Habshan 5 gas processing mega-complexes and pipelines, including brownfield modifications and the installation of new facilities.
Chief executive Ken Gilmartin said: "ADNOC Gas' RGD programme is pivotal to the UAE's energy security strategy and broader economy. We're proud to be at the heart of such a significant initiative.
"Wood gained extensive knowledge of Habshan delivering the front-end engineering design and we will deliver the EPCm phase while the facilities remain fully operational in order to sustain critical gas supply.
"This win reinforces our position as a leader in highly complex engineering and project delivery solutions at considerable scale."
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