The three reimbursable contract extensions will see Wood continue to provide operations and maintenance solutions for Shell UK, Dana Petroleum, and CNOOC International’s UK operations. These agreements will secure the roles of approximately 500 employees in Aberdeen.

Through these extended agreements, Wood will support a wide range of offshore assets. This includes Shell UK’s Shearwater, Gannet, Nelson, and Penguins assets; CNOOC’s Golden Eagle, Buzzard, and Scott fields; and Dana Petroleum’s Triton and Western Isles FPSOs (floating production, storage and offloading vessels). The company highlighted its success in renewing all its UK North Sea contract options in the previous year.

Steve Nicol, Wood’s president of Operations, said: “We have an unmatched legacy in operating and maintaining North Sea energy infrastructure. Our long-standing clients continue to partner with us to enhance operations and improve production efficiency to ensure a reliable, safe and sustainable energy supply.

“In 2024 we secured 100% of our contract renewal and extension options across our UK North Sea portfolio and continuing this success in 2025 reinforces our position as a trusted long-term partner for operations solutions in the region.”

Meanwhile, Wood employees and shareholders await the outcome of a takeover proposal from Dar Al-Handasah Consultants Shair and Partners Holdings Ltd (Sidara). On 14 April, Wood announced it had received a “holistic non-binding conditional proposal” from Sidara, including a possible cash offer of 35 pence per share. This offer would value Wood at approximately £240 million.

The Takeover Panel granted an extension to the deadline by which Sidara must announce a firm intention to make an offer or confirm it will not proceed. This deadline is currently set for 5 pm on 15 May, 2025.