Wood Group said it remains focused on mergers and acquisitions as it said its overall financial outlook for the year remains unchanged, despite challenging market conditions.
The company issued its pre-close trading update for the year ahead of results being published in 2016.
Earlier this year the company announced the acquisition of Infinity as well as a previously deal to acquire Automated Technology Group in September as well as Beta Machinery Analysis in June.
Wood Group has appointed three senior engineering specialists who will lead a new team of up to 20 people in the UK to build Wood Group's vibration service.
A company set up by Wood Group last year to perform personnel services to external businesses will now be brought in-house once again.
Wood Group said the move to reel in its Altablue recruitment and payroll business was to reflect the “changing need” for resourcing service provisions in the current climate.
The 100% owned Wood Group firm was set up in June last year and registered in Jersey.
Wood Group has won a $31million contract from Carbon Creek on their coalbed methane asset in the Powder River basin in the US.
The deal will see Wood Group PSN (wgpsn) deliver operations management services to the field in Wyoming which consists of 7,000 drilled wells and up to 12,000 drillable locations.
The region, which is the largest of its kind in the region, produces 385 million cubic feet of gas per day.
Talks are being held with Wood Group and Bilfinger Industrial Services staff working at the Sullom Voe Terminal in Shetland over the future of up to more than 200 positions.
Wood Group is in discussions regarding around 90 positions at the BP-operated terminal following a review of its personnel requirements brought on by changes being made to work on the site.
Meanwhile Bilfinger Industrial Services said it had also initiated consultation due to changes in seasonal workloads and winter working conditions.
Wood Group has acquired Automated Technology Group (ATG), one of the UK's largest independent suppliers of control and power solutions for industrial automation in a multi-million pound deal.
Statoil said today it had appointed Wood Group of Aberdeen to provide four-year operations, maintenance and modifications services in the Peregrino development offshore of Brazil.
Wood Group Intech (WGI) has strengthened its team with a new global business development manager.
Colin Underwood will be responsible for leveraging and building the global capability of the company working with the firm's regional representatives.
Underwood brings with him more than 30 years of industry experience, working across a broad range of disciplines and in a variety of geographical and cultural settings.
Wood Group has provided engineering, procurement and other services to Flint Hills Resources for its Eagle Ford modification at its West refinery in Texas.
The project will enable the refinery to process 100% US crude – primarily from the Eagle Ford region – into transportation fuels.
The work was successfully completed by Wood Group Mustang (WGM) who completed the conceptual and front-end engineering design phases of the project.
Bob Keiller sends a message on Core Values to Wood Group employees every week. The note below is taken from a message he sent to employees a few weeks ago.
Remember the '80s US rock band Van Halen?
Ever heard of a clause buried deep in their lengthy touring contract? It stated something like “there should be no brown M&Ms backstage…if found, the band has the right to cancel the concert at full pay without warning.”
Wood Group chief executive Bob Keiller said it would spend “every dollar needed but not one dollar more” to get the job done.
The company leader was briefing investors about the firm’s financial results when he made the commitment today.
Wood Group recorded a 20% drop in revenue. Since the oil price slip, the firm has been forced to make 5,000 redundancies, including 1,000 in the UK, 3,000 in the US and 1,000 in the Middle East.
