Wood drives growth in Middle East with US$850 million of wins in 2023

In 2023, the company was involved in projects across the region including the development of a CO2 transportation and storage network that will increase the current global capacity of CO2 storage by approximately 25%, as well as feasibility studies and preliminary front end engineering design for both carbon capture and storage (CCS) and low-carbon hydrogen projects. In addition, Wood continues to support brownfield asset upgrades and expansions alongside greenfield developments to optimise operations for petrochemicals and gas producers.

In Iraq, Wood was recently awarded a contract extension with a long-term client to continue delivering front end engineering design (FEED), procurement and EPC contract management solutions, critical to safe and efficient operations. Wood is also supporting a project to reduce emissions in the country by more than 10 million tpy of carbon through the elimination of flaring.

Contract awards elsewhere in the region include a long term multi-million-dollar engineering and procurement services contract in Qatar and complex pre-FEED and FEED services for both onshore and offshore clients in the UAE.

Ken Gilmartin, CEO at Wood said, “We are thrilled to see continued growth across our Middle East business, where we have supported the energy industry for more than eight decades. Wood remains committed to delivering exceptional value for our clients in the region and developing in-country talent. Our recent successes are testament to the hard work and dedication of our remarkable team and our unwavering commitment to providing solutions that contribute to a low carbon future.”

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/31012024/wood-drives-growth-in-middle-east-with-us850-million-of-wins-in-2023/