Wood’s five-year Aramco contract

ENERGY and engineering services firm Wood has clinched a contract with oil giant Saudi Aramco.

The company said the five-year contract will see it help the Middle Eastern firm deliver ‘one of its mega projects’ in Saudi Arabia.

Wood Group, which completed its acquisition of Amec Foster Wheeler last year, said it will help develop the Marjan oil field in the country’s eastern province. It is part of Saudi Aramco’s multibilliondollar Marjan Crude Increment Programme, which is meant to help diversify Saudi Arabia’s economy, expand gas production and boost energy sustainability.

Wood shares were up 0.7pc, or 4.2p, to 609.6p.