WGPSN secures duty holder contract in North Sea
ABERDEEN -- Wood Group PSN (WGPSN) has secured its second North Sea duty holder contract extension this year. Valued at approximately $200 million, the life of field contract from Ithaca Energy will see WGPSN operate and deliver managed services to the Beatrice offshore platforms and Nigg onshore terminal, until the end of their operating life.
This award marks the continuation of a contract WGPSN has retained with Ithaca since 2008. Situated in the North Sea, the Beatrice field is the largest oilfield in the Inner Moray Firth area. The Beatrice platforms and Nigg onshore oil terminal came on stream in 1981, with an expected 30 year life span. Since taking over the operation, WGPSN has delivered asset life extension programs, which have considerably increased the expected asset life of Beatrice and Nigg.
This new contract secures almost 200 UK jobs, primarily offshore, and is one of two UK duty holder contracts maintained by WGPSN.
The award follows the multi-million dollar extension to provide duty holder and asset management services for the Teekay PJ Hummingbird Spirit FPSO vessel, announced in May 2013. Situated on the Centrica-operated Chestnut field in the North Sea, this was WGPSN's first duty holder contract, awarded in 2008.