Press release

Wood drives significant growth in Middle East with $850 million of wins in 2023

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English | Earabiun

Wood, a global leader in consulting and engineering, has recorded excellent growth in the Middle East region, securing $850 million in contract wins in 2023.

Wood works across the region to unlock conventional and low carbon energy supply, decarbonise and optimise energy production and processing, and extend onshore and offshore asset life in key locations including Iraq, the Kingdom of Saudi Arabia, Qatar, and the UAE.

In 2023, the company was involved in groundbreaking projects across the region including the development of a CO2 transportation and storage network that will increase the current global capacity of CO2 storage by approximately 25%, as well as feasibility studies and preliminary front end engineering design for both carbon capture and storage (CCS) and low-carbon hydrogen projects. In addition, Wood continues to support brownfield asset upgrades and expansions alongside greenfield developments to optimise operations for petrochemicals and gas producers.

In Iraq, Wood was recently awarded a contract extension with a long-term client to continue delivering front end engineering design (FEED), procurement and EPC contract management solutions, critical to safe and efficient operations. Wood is also supporting a significant project to reduce emissions in the country by more than 10 million tons of carbon per year through the elimination of flaring.

Contract awards elsewhere in the region include a long term multi-million-dollar engineering and procurement services contract in Qatar and complex pre-FEED and FEED services for both onshore and offshore clients in the UAE.

Ken Gilmartin, CEO at Wood said, “We are thrilled to see continued growth across our Middle East business, where we have supported the energy industry for more than eight decades. Wood remains committed to delivering exceptional value for our clients in the region and developing in-country talent. Our recent successes are testament to the hard work and dedication of our remarkable team and our unwavering commitment to providing solutions that contribute to a low carbon future.”

Due to Wood’s success in the region and to support further growth, the company recently recruited over 700 new employees and is currently recruiting 500 roles with more expected throughout 2024.

In line with Wood's commitment to developing local engineering talent, the company's four-year engineering Basrah Graduate Scheme continues to grow and has now supported more than 60 University of Basrah graduates since 2016.

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