LNG

March 20 (LNGJ) - Wood Group, the energy services and LNG project company that completed the US$2.8-billion acquisition in October 2017 of London-listed peer Amec Foster Wheeler, posted a $30 million loss for the year. Wood said operating profit before one-time items was $212M compared with $244M the previous year, a fall of 13 percent. Revenues from continuing operations amounted to $5.39Bln in 2017. “The acquisition of Amec Foster Wheeler in October brought together two businesses and three brands to create Wood, a global leader in project engineering and technical services delivery,” said Robin Watson, Wood Chief Executive. “We are a broader business with multi-sector, full-service capability across energy and industrial markets and have a stronger, more balanced offering in oil and gas,” added Watson.

Australian LNG and energy engineering company WorleyParsons has put behind it several years of restructuring to pay 182 million pounds (US$240) to expand into the UK North Sea petroleum market with an agreed takeover.

Wood Group, the UK energy services company based in Aberdeen, has reached an agreement to take over the London-listed energy and LNG project engineering company Amec Foster Wheeler in an all-share deal valued at more than 2.25 billion pounds ($2.75Bln).

Amec Foster Wheeler, the UK-based energy and engineering company, said it won an owner’s engineer contract from the Chile LNG terminal company GNL Quintero for services related to an expansion.

Amec Foster Wheeler, the energy and LNG project company, said it was awarded a five-year global enterprise framework agreement from Shell Global Solutions International to provide engineering, procurement and construction management services for its downstream ventures worldwide.

Oct 27 (LNGJ) - Energy and LNG engineering company Amec Foster Wheeler said it was making good progress in defining strategies for a new market-led operating structure amid cost savings and strong trading. “We are on course to deliver resilient trading results for this year and next despite the continuing weakness in some of our key markets,” said Jon Lewis, Chief Executive of Amec FW. “This is only possible due to the diversity of our business and the initial contribution from additional sustainable cost savings we started in June. The review has also confirmed a number of challenges and highlights a range of new opportunities across our markets,” he added.

Amec Foster Wheeler, the UK-based LNG and energy engineering company, was awarded a consultancy contract by Inpex Corp. for the Ichthys LNG export project in Australia that has entered the final year of first-phase construction at a cost of $US37.5 billion.