Correction : Wood Group PSN Scores Major Contract

In the original announcement released at 7am today the wording was incorrect.
The below information is accurate.



25 February, 2014

WOOD GROUP PSN SCORES MAJOR CONTRACT FROM TALISMAN SINOPEC ENERGY UK

Wood Group PSN (WGPSN) has been awarded its first major contract in the UK in 2014. The five year contract from Talisman Sinopec Energy UK is valued at $500 million USD and includes an option for two additional, two year extensions.

Under the scope, WGPSN will provide engineering & modifications services to Talisman Sinopec Energy UK's 11 offshore assets - Arbroath, Auk, Bleo Holm, Buchan, Claymore, Clyde, Fulmar, Montrose, Piper B, Saltire and Tartan platforms - in the UK North Sea, and onshore at the Flotta oil terminal on Orkney.

Effective immediately, this award enables WGPSN to retain approximately 550 jobs onshore and offshore in the UK.

This is one of two major contracts WGPSN has with Talisman Sinopec Energy UK. The other is for the provision of operations and maintenance services to the same 12 assets.

Dave Stewart, UK managing director of WGPSN said: "We have worked with this key client for 10 years and this award is testament to the relationship we have developed. Our Talisman Sinopec Energy UK project now employs 1,300 personnel onshore and offshore making it one of the largest projects in our global portfolio. Securing this contract is a great way to kick off 2014."

In the UK, Wood Group now employs more than 12,000 people working onshore and offshore.

- ENDS -

Notes to Editors:

Wood Group is an international energy services company with around $7bn sales, employing about 46,000 people worldwide and operating in 50 countries. The Group has three businesses - Wood Group Engineering, Wood Group PSN and Wood Group GTS providing a range of engineering, production support, maintenance management and industrial gas turbine overhaul and repair 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. Employing over 29,000 people in more than 40 countries, Wood Group PSN offers high integrity, brownfield services that support customers to optimise performance, maintain production, reduce operating costs and provide integrity assurance. www.woodgroup-psn.com

Wood Group PSN - UK operations

In 2013, WGPSN in the UK enjoyed significant contract success with nine other North Sea contract extensions from Nexen, CNR, TOTAL E&P UK, Teekay, Ithaca Energy, ConocoPhillips (UK) Limited, Dana Petroleum, Shell GPS and Chevron. In December 2013, WGPSN was also awarded its first contract from BG in the UK and its first major piece of work from this customer.

Talisman Sinopec Energy UK is a joint venture between Talisman Energy Inc, a global upstream oil and gas company headquartered in Canada, and Sinopec, the fifth largest company in the world. Through the long term commitment of two global shareholders, the JV is directing more investment into its UK assets.

For further information contact:

Carolyn Smith, Corporate Communications - Eastern Hemisphere
Tel: [phone], email: [e-mail]


Bobbie Ireland, Corporate Communications - Americas, Wood Group
Tel: [phone], email: [e-mail]

www.woodgroup.com