John Wood Group Secures Esso Retrofit Contract Extension

Date : 04/02/2014 @ 2:37AM
Source : Dow Jones News
Stock : Exxon Mobil Corp. (XOM)
Quote : 80.12  -0.74 (-0.92%) @ 7:59PM

John Wood Group Secures Esso Retrofit Contract Extension

John Wood (LSE:WG.)
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LONDON--Energy services company John Wood Group PLC (WG.LN) said Wednesday that Wood Group PSN, or WGPSN, has been awarded a contract to provide engineering, procurement and construction services to support the Gippsland Basin Joint Venture's retrofit portfolio of projects in Victoria, Australia.

MAIN FACTS:

-Awarded contract by Esso Australia Proprietary Limited, an Australian unit of ExxonMobil (XOM).

-Joint venture includes ExxonMobil, as operator, and BHP Billiton (BLT.LN).

-Under the contract, WGPSN will provide brownfield engineering, procurement and construction service support to the Gippsland Basin Joint Venture's offshore facilities in the Bass Strait and onshore facilities at Longford Gas Plant, Long Island Point and Barry's Beach Marine Terminal in Victoria.

-Contract is effective from April.

-Shares of John Wood on Tuesday closed at 762 pence, valuing the company at GBP2.86 billion.

-Write to Tapan Panchal at tapan.panchal@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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