Wood Group has signed an agreement to work in partnership with oil & gas company, MOL Energy UK, to provide facilities support in the North Sea market.
MOL Energy UK, a 100% subsidiary of MOL Group, completed its first acquisition of four offshore licenses in December 2013, and then acquired six further offshore licenses in June 2014.
Wood Group has been chosen as one of five partners who will provide support to MOL Energy UK, alongside AGR Tracs, SPD, Subsea 7 and Proserv.
MOL Energy UK managing director Chris Bird says: "At MOL Energy UK we are clear the path to success lies in adopting a collaborative business model and as a new market entrant, we are in an ideal position to create a corporate culture and values-driven approach that is based on effective collaboration from the start."
Nigel Lees, regional director - Strategy & Growth, Wood Group PSN adds: "We are delighted to have been selected as the facilities partner for MOL Energy UK to support them in realising their vision for the North Sea. We look forward to working with MOL Energy UK and our fellow partners in a truly collaborative approach, which we believe will deliver real value, even in the challenging conditions that exist today. "This partnership has the potential to be an exemplar for future collaboration in the North Sea and beyond, supporting the overall ambition of Maximising Economic Recovery in the UK (MERUK) and delivering a sustainable future for our industry."