A strategic partnership worth $330 million has led to a new masters services agreement for UK North Sea operations
Wood and Harbour Energy (Harbour), the UK’s largest oil and gas producer, have entered into a new strategic partnership. Formed of a new masters services agreement (MSA) and associated contracts, the partnership is valued at around $330 million.
Under this new agreement, Wood will provide engineering, procurement and construction (EPC), and operations and maintenance (O&M) services. This includes digital and decarbonization solutions for several of Harbour’s offshore assets, which are critical to UK energy security.
Steve Nicol, Wood’s Executive President of Operations, said: “Harbour and Wood share a commitment to ensuring safe, reliable, and sustainable energy production. We’re confident that our integrated digital solutions and world-leading expertise will enable Harbour to maximize their investment.
“We have worked on North Sea assets for more than 50 years. We excel in designing and managing the complexity of energy infrastructure while simultaneously seeking to minimize associated emissions. This new agreement and contracts are testament to Wood’s role as a trusted technical partner to the energy companies of the future. Our priority is to help clients deliver the world’s energy and be able to transition to a low carbon future.”
Audrey Stewart, Harbour Energy’s Vice President of Supply Chain, said: “The signing of this contract with Wood is an important step forward in establishing our suite of long-term strategic partnerships across our North Sea assets.”
The partnership will run for an initial term of five years, with five one-year extension options covering Harbour’s operated assets. It will also support local employment, with further recruitment in Aberdeen expected in 2024.