25 June 2015
Wood Group enters $250m agreement
for operating services on Central Area Transmission System
Wood Group has entered into a $250million agreement with Antin Infrastructure
Partners (Antin IP) to provide operating services for the Central
Area Transmission System (also known as CATS) in the North Sea for
up to 10 years, subject to certain regulatory and other
consents.
Wood Group PSN (WGPSN) will act as the duty holder of the CATS
terminal and pipeline and will have day-to-day responsibility for
operations. A dedicated Wood Group Kenny (WGK) team based in
Glasgow will be integrated into
the operating services team to provide pipeline management
expertise.
CATS transports gas through 404km of pipeline from the Central
North Sea to its terminal in Teesside in the UK where it is then
processed on behalf of major North Sea gas producers. The system
currently serves 34 producing fields with a high portion of
contracted revenues. In 2013, CATS accounted for the transportation
of 13% of UK domestic gas production.
The news follows the announcement that Antin has agreed to
acquire BP’s share of CATS taking their interest to 99%. WGPSN will
work closely with Antin IP and BP to ensure a safe and smooth
transition. It is anticipated WGPSN will take responsibility for
operating CATS by the end of 2015 once the deal between BP and
Antin IP has concluded.
James Crawford, WGPSN’s UK and
Africa managing director, said:
“This partnership enables us to extend our existing duty holder
capabilities and expertise into new markets. By leveraging the
expertise of WGPSN and WGK, we will draw on the strength of Wood
Group for our new client and our priority is to ensure a safe and
smooth transition of operatorship with particular focus on
retaining and developing the existing CATS workforce.
“We have already established a strong relationship with Antin IP
and we are looking forward to working with them to grow and develop
CATS.”
Ends -
Notes to editors:
Wood Group is an international energy services company with over
$7bn sales and operating in more than
50 countries. The Group is built on Core Values and has three
businesses – Wood Group PSN, Wood Group Kenny and Wood Group
Mustang – providing a range of engineering, production support and
maintenance management services to the oil & gas, and power
generation industries worldwide. www.woodgroup.com
Wood Group PSN is a global provider of pre-operations, hook up
& commissioning, operations & maintenance, engineering,
construction, project management, training and decommissioning
services to the energy industry. Operating in more than 40
countries, Wood Group PSN offers high integrity, brownfield
services that support customers to optimize performance, maintain
production, reduce operating costs and provide integrity assurance.
www.woodgroup-psn.com
Wood Group Kenny is the world's largest independent specialist
subsea, pipeline and riser engineering and management
contractor.
www.woodgroupkenny.com
For further information contact:
Wood Group Press Office
Tel: +44 (0) 1224 532569
email: press.office@woodgroup.com