Wood, an energy industry-focused consulting and engineering company, has secured a contract extension with Equinor for asset maintenance offshore Brazil. 

The $80m contract is for Peregrino offshore assets, situated off the coast of Rio de Janeiro. 

The two-year extension builds a long-standing global partnership, with Wood supporting Equinor operations across the UK, Norway and Brazil. 

Under the extended contract, Wood will continue to maintain the Peregrino wellhead platforms and the floating production, storage and offloading unit.  

Wood’s services will include engineering, prefabrication and outfitting, offshore installation, commissioning and turnaround support.  

The contract will be upheld by a workforce of 500 employees. 

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By GlobalData

During the forthcoming maintenance campaign, set to commence in May 2024, the team will operate from an offshore flotel.  

Equinor’s Phase 2 development of the Peregrino heavy oil field began production in October 2022. 

It is expected to prolong the field’s lifespan until 2040 and yield an additional 250–300 million barrels of oil. 

Wood president of operations of Americas Shawn Combden said: “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.” 

Wood country manager for Brazil Hugues Corrignan said: “Our eight-year relationship with Equinor in Brazil is built on a well-established track record of asset knowledge and mutual trust. 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.” 

Last month, Wood secured a significant contract to assist BP with a new subsea tieback project in the UK North Sea.  

For the two-year duration, Wood will carry out topside modification work at bp’s ETAP central processing facility, facilitating the connection to the Murlach field.