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Wood Group wins US$43mln Texas pipeline construction contract

The oil and gas engineer believes this contract win strengthens its position as a major midstream player

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Wood said that at peak construction, the project will employ up to 200 people

Wood Group (John) Plc (LON:WG.) said it had been awarded a US$43mln contract by a large-cap midstream company to construct 80 miles of steel pipeline in west Texas.

The oil and gas engineering group said on Wednesday that the project would serve to transport natural gas liquids (NGL) across Texas.

READ: Wood Group lands US$53mln of new business in Abu Dhabi

Wood said that at peak construction, the project would employ up to 200 people.

"This is a strategic pipeline for the US and we are proud to play our part in delivering this milestone project,” Andrew Stewart, CEO of Wood’s Asset Solutions Americas business said in a statement.

“We have the largest and most vertically integrated pipeline project offering in North America and this win strengthens our position as a major midstream player."

Last month Wood Group told investors it has landed three new contracts in the United Arab Emirates, with a subsidiary of Abu Dhabi National Oil Company (ADNOC).

Quick facts: Wood Group (John) PLC

Price: 390.5 GBX

LSE:WG.
Market: LSE
Market Cap: £2.67 billion
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