27 October 2017
John Wood Group
PLC (“Wood”)
Completion of
disposal of majority of Amec Foster Wheeler’s UK North Sea
operations
On October 9 2017, WorleyParsons
Europe Limited entered into a binding agreement to acquire the
majority of Amec Foster Wheeler’s UK North Sea operations.
Wood confirms the completion today of the sale of those operations
for a cash consideration of £227 million. The cash proceeds
will be used to reduce net debt.
The business being sold consists of the majority of Amec Foster
Wheeler’s UK upstream oil and gas business located in the UK and
serving UK customers (excluding its commissioning business,
qedi).
Note to Editors:
Wood is a global leader in the delivery of project, engineering
and technical services to energy and industrial markets. We operate
in more than 60 countries, employing around 55,000 people, with
revenues of over $11 billion. We
provide performance-driven solutions throughout the asset
life-cycle, from concept to decommissioning across a broad range of
industrial markets including the upstream, midstream and downstream
oil & gas, chemicals, environment and infrastructure, power
& process, clean energy, mining and general industrial sectors.
We strive to be the best technical services company to work with,
work for and invest in. www.woodplc.com
Enquiries:
Wood
Andrew Rose, Head of Investor
Relations
Tel: +44 (0)1224 532716
Brunswick (Public Relations Adviser to Wood)
Patrick Handley
Tel: +44 (0)20 7404 5959
Charles
Pemberton
John Wood Group PLC LEI:
549300PLYY6I10B6S323