Wood renews US$80 million contract with Equinor for offshore assets in the Campos Basin

Wood has renewed an US$80 million contract with Equinor to provide maintenance and modification solutions for the oil company's offshore assets in the Peregrino field in the Campos Basin.

Wood, a consulting and engineering company, announced last Thursday (01/02), the renewal of a US$80 million contract with Equinor Brasil, one of the largest energy companies in the world. The contract provides for the provision of maintenance and modification solutions for Equinor's offshore assets in the Pilgrim's field, located in the Campos Basin, approximately 85 km off the coast of Rio de Janeiro.

Wood and Equinor renew partnership for offshore maintenance in the Campos Basin

The Peregrino field is Equinor's largest exploration and production project outside Norway, and features two wellhead platforms and a floating production storage and offloading unit (FPSO).

Wood is responsible for providing engineering, prefabrication and equipment support, offshore installation, commissioning and recovery (TAR) for these assets to optimize their performance and extend their useful life.

The contract extension for a further two years is based on a long-term, global partnership between Wood and Equinor, which covers the oil company's operations in the United Kingdom, Norway and Brazil.

Wood employs about 500 employees to service the contract, which is reimbursable.

During the next maintenance campaign, scheduled for May 2024, the team will be based on an offshore flotel, a vessel that functions as a floating hotel, to increase productivity levels.

Check out the opinion of the president and general manager

Wood's president of operations in the Americas, Shawn Combden, said the contract extension reaffirms customers' confidence in the company's ability to consistently meet and exceed expectations in the delivery of brownfield engineering projects, which are those that involve modifying or expansion of existing facilities.

“The maintenance and upgrade modifications delivered by our team will extend the life of these assets, which are essential for energy security,” he said.

Wood's general manager for Brazil, Hugues Corrigan, highlighted that the eight-year relationship with Equinor in Brazil is built on a well-established history of asset knowledge and mutual trust.

“Our commitment to excellence, relentless focus on safe operations and unwavering dedication to understanding our customers’ evolving needs were instrumental in securing this win,” he said.

Source: Petronotícias