Wood clinches $80m contract extension with Equinor for Peregrino offshore fields

In a significant development that underscores the enduring strength of global energy partnerships, Wood has successfully secured an $80 million contract extension with Equinor. This agreement marks a continuation of Wood’s commitment to delivering maintenance and modification solutions for Equinor’s Peregrino offshore assets, located off the coast of Rio de Janeiro, Brazil. The two-year extension not only reinforces the long-term and global partnership between Wood and Equinor but also highlights Wood’s pivotal role in supporting operations across the United Kingdom, Norway, and Brazil.

Under the renewed contract, Wood is set to continue providing a comprehensive suite of maintenance solutions aimed at optimizing the operational efficiency of the Peregrino wellhead platforms and the floating production storage and offloading (FPSO) unit. The scope of services includes engineering, prefabrication and outfitting, offshore installation, commissioning, and Turnaround (TAR) support. This extension is a testament to Wood’s client’s confidence in its ability to consistently meet and exceed project delivery expectations, thereby ensuring the extended lifespan and enhanced productivity of these critical energy assets.

Shawn Combden, Wood’s President of Operations in the Americas, expressed pride in the contract extension, stating, “This extension reaffirms our client’s confidence in our ability to consistently meet and exceed expectations in brownfield engineering project delivery. The maintenance and upgrade modifications delivered by our team will extend the life of these assets, critical to energy security.” This statement underscores the strategic importance of the Peregrino field in the broader context of energy security and operational excellence.

Supported by a dedicated team of 500 employees, the next maintenance campaign is scheduled to commence in May 2024. During this period, the team will be based on an offshore flotel, an innovative approach designed to enhance productivity levels significantly.

Hugues Corrignan, Wood’s Country Manager for Brazil, reflected on the eight-year relationship with Equinor in Brazil, emphasizing the foundation of asset knowledge, mutual trust, and a relentless focus on safety and operational excellence. Corrignan noted, “Our commitment to excellence, relentless focus on safe operations and unwavering dedication to understanding our client’s evolving needs have been critical to securing this win.”

The $80 million contract extension awarded to Wood by Equinor for the maintenance of the Peregrino offshore assets is a clear indicator of the robustness and reliability of Wood’s engineering and maintenance solutions. In an era where energy security and sustainable operations are paramount, such partnerships are instrumental in ensuring the longevity and efficiency of critical energy infrastructure. Wood’s ongoing commitment to safety, excellence, and innovation, coupled with its deep understanding of Equinor’s needs, sets a benchmark for the industry, demonstrating how strategic collaborations can lead to mutual success and contribute to the broader goal of energy security.