Wood Group announced today it has secured a contract to provide engineering, procurement, construction and maintenance services to the Hibernia platform offshore Canada, the world’s largest oil platform.
The five-year contract has been awarded by Hibernia Management and Development Company (HMDC) and entails services offshore Newfoundland.
“Since first oil in 1997, Wood Group has been the incumbent contractor for many of these services on the Hibernia platform. The first producing field of Canada’s East Coast, it has been a cornerstone of our business in the region,” Wood Group’s Asset Life Cycle Solutions CEO, Michele McNichol, said.
Wood Group to Service World’s Largest Oil Platform
Under the agreement, Wood Group will provide the services through its Eastern Canada operations in St. John’s, Newfoundland and Labrador.
As well as this, Wood Group explained, the contract has the potential of two additional five-year extensions.
Wood Group is executing 2 EPC contracts in Newfoundland platforms
“This new contract demonstrates the confidence this key client has in our team,” the CEO added.
“Wood Group has provided a high level of service, retained specific knowledge to the platform and executed work safely with local talent – even in the harshest of environments,” she stated further.
Wood Group is currently executing EPC (engineering, procurement and construction) contracts on two of the three production platforms located offshore Newfoundland.
Hibernia Field Production Extended for 15-20 Years
Hibernia is Newfoundland and Labrador’s first producing offshore oil field, expected to reach a production of one billion barrels of oil in 2017.
The platform, installed 19 years ago, was expected to reach the end of its lifespan soon, but satellite fields have significantly raised oil reserves and output is expected to continue for another 15 to 20 years.
The platform has three separate components: the topsides, the gravity base structure and the offshore loading system.
The completed facility was towed to the Hibernia oil field and positioned on the ocean floor in June 1997 and started producing later that year.