Wood Group in $250m Ops agreement

expat network

Wood Group in $250m Ops agreement

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.”

For more information, please visit: www.woodgroup.com

Source & Link: Your Project News

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.