Content about Aberdeen

February 27, 2012

Wood Group PSN wins £250 million North Sea contract

Premier Oil has awarded a contract to Wood Group PSN for the delivery of integrated operations and maintenance support services to the Balmoral floating production vessel (FPV).

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

November 25, 2011

Bridge Energy

Bridge Energy’s balanced portfolio of exploration and production oil and gas projects across the North Sea makes it an attractive investment as it sets out to list in London as well as Oslo.

Bridge Energy’s balanced portfolio of exploration and production oil and gas projects across the North Sea makes it an attractive investment as it sets out to list in London as well as Oslo.

November 15, 2011

North Sea contracts awarded

Talisman Energy (UK) has awarded Wood Group PSN £500 million of North Sea contracts, it has been announced.

Under the terms of a new five-year contract, which includes an option to extend for a further five years, Wood Group PSN will provide operations and maintenance services on all 11 of Talisman's UK offshore assets and at the Flotta Oil Terminal on Orkney. The contract will be worth £90 million per annum and will begin today.

July 15, 2011

Wood Group PSN

Wood Group PSN’s Australian operations form the company’s largest international business unit, with more than 2,100 personnel now working across five Australian regions: Victoria (Melbourne), Queensland (Brisbane), New South Wales (Sydney), Western Australia (Perth) and Northern Territory (Darwin).

June 14, 2011

Wood Group PSN wins contract extension

Wood Group PSN has announced the extension of its contract with TAQA Bratani by a further five years.

Under the terms of the services contract, Wood Group PSN will provide operations and maintenance support, and engineering and construction services, to TAQA's Cormorant Alpha, North Cormorant, Tern and Eider platforms in the northern North Sea.

The contract is an extension of the previous duty holder and integrated facility management services contract that was awarded to Wood Group in November 2008.

April 8, 2011

Costain acquires ClerkMaxwell

Engineering and construction group Costain has snapped up 75 per cent of Aberdeen-based energy engineering consultancy ClerkMaxwell for £3.2 million.

ClerkMaxwell’s management team of five will share approximately 70 per cent of the money paid for the business they started less than three years ago.

Costain also has the option to acquire the remaining 25 per cent of ClerkMaxwell’s shares.

March 30, 2011

BAA airport ruling confirmed by Competition Commission

The Competition Commission today confirmed its ruling that BAA should sell Stansted Airport and one of either Edinburgh or Glasgow Airports.

The Competition Commission today confirmed its ruling that BAA should sell Stansted Airport and either one of Edinburgh or Glasgow Airports.

The Commission made its initial ruling two years ago in March 2009, but BAA has been fighting through the courts to retain its portfolio of airports.

After the sale of Gatwick in December 2009 to a consortium led by Global Infrastructure Partners, BAA currently operates six airports: Heathrow, Stansted, Southampton, Aberdeen, Glasgow and Edinburgh.

December 13, 2010

Wood Group to acquire rival PSN

Scottish oil services giant Wood Group has announced it is to take over rival PSN in a £600 million deal.

The merger of the two Aberdeen-based firms will create the UK’s biggest oil services company. It will also be Wood’s largest acquisition to date.

PSN, an international energy services company, will merge with Wood’s Production Facilities business to create the brownfield production services provider, Wood Group PSN.

October 12, 2010

Wood Group wins £100 million power contract

Aberdeen-based energy services company John Wood Group has won a £100 million power station contract in California.

The contract is to construct and commission the conversion of the Tracy Peaker Plant in Tracy, California, owned by GWF Energy, in order to make it more environmentally friendly.

The work will be carried out by the company’s power division, Wood Group GTS.

August 31, 2010

EnCore reports North Sea oil find

UK oil and gas explorer EnCore Oil has announced a new North Sea oil find at its Cladhan field.

Cladhan is located 225 miles north-east of Aberdeen, in 536 feet water depth. It is thought that the field may hold reserves of between 100 million and 200 million barrels.

The Cladhan announcement follows the discovery of the 300 million barrel Catcher field, which was identified in June and in which EnCore also has a stake.

EnCore, which started drilling at the Cladhan site in August, will now drill horizontally to determine the size of the field.

August 20, 2010

Dana receives hostile bid from KNOC

Aberdeen-based exploration firm Dana Petroleum has received a £1.87 billion hostile takeover offer from South Korea's state-owned oil company KNOC.

The offer is equivalent to £18 per share—59 per cent above Dana's share price of £11.51 prior to KNOC’s interest first being announced.

Dana’s board rejected approaches from KNOC earlier this month.

August 13, 2010

Wagenborg Offshore

A Netherlands-based company whose expertise is in demand to support oilfield operations in Kazakhstan.

Wagenborg Offshore is a Netherlands based company whose parent group Royal Wagenborg has more than a century of experience in providing maritime services in the Baltic Sea. Operations director Johan Adriaanse explains to John O’Hanlon why its expertise is in demand to support oilfield operations in Kazakhstan.

July 26, 2010

Dana under pressure from shareholders over KNOC

Shareholders in Dana Petroleum are attempting to force the UK-based oil explorer to open takeover talks with South Korean suitor Korea National Oil Corp (KNOC), according to reports.

The Financial Times has reported that Schroders, Dana's biggest shareholder with a 13 per cent stake, has urged its board to engage with KNOC over its £1.67 billion indicative offer.

July 1, 2009

Ithaca Energy

Shining Ithaca
Pessimists say that the North Sea is in decline, but there’s enough oil and gas under there to keep it active for decades. John O’Hanlon speaks to John Woods, chief development officer of Ithaca Energy (UK) Ltd.
Ithaca Energy is focused on the oil and gas resources of the North Sea, parcelled out in a series of annual licencing rounds by the UK government. The economics are simple, if their application is complex. As oil prices rise, it becomes worthwhile to drill for reserves that aren’t a paying prospect when prices are low, and Ithaca’s team has vast experience in the North Sea. John Woods, chief development officer for Ithaca, knows the oilfields like the back of his hand, having spent 25 years working with large operators and managing some of the most complex developments there, and he now screens potential assets with a view either to acquire them or to purchase an interest.