Wood secures Middle East deal amid Sidara talks – Daily Business

Wood Group has won a three-year contract to provide specialist technical support to Petroleum Development Oman (PDO) – the country’s primary oil producer – as talks with its suitor continue.

Analysts will see the latest award as confirmation of the company’s underlying strength despite a series of setbacks that have seen its share price plummet.

Dubai-based Sidara has until 17 April to decide whether to make a formal offer for the Aberdeen-based company which has been hit by accounting issues uncovered in a review by Deloitte.

Under the latest contract, 65 of Wood’s engineering and project management specialists will deliver complex front-end energy transition and carbon capture projects for PDO.  

The cohort will predominantly consist of Omani nationals, reinforcing Wood’s commitment to local talent development.

The team will be complemented by Wood’s extensive network of global experts in delivering feasibility studies, pre-FEED and FEED solutions for all stages of the oil production value chain.   

Gerry Traynor, president of eastern hemisphere projects at Wood said: “Our new contract with Petroleum Development Oman underscores our commitment to providing quality, assured delivery for our clients on their critical project investments.  

This contract win comes at a time of sustained growth for Wood in the Middle East, with the company achieving $920 million worth of contract awards in the region in 2024.