Wood Group secures contract extension with Shell

LONDON (ShareCast) - Wood Group (Xetra: 634639 - news) , the FTSE 250 (FTSE: ^FTMC - news) enineering firm, has secured a contract extension from Shell (LSE: RDSB.L - news) in the UK to deliver midstream engineering and construction services to two gas plants. The two-year contract, which includes an option for a further two-year extension, is worth £75m and is effective from April 2012. The previous contract was awarded in 2007. Robin Watson, UK managing director at Wood Group PSN said: "We have an established working relationship with Shell that spans two decades and the award of this extension demonstrates Shell's ongoing confidence in Wood Group. The contract enables us to develop our midstream onshore plants business and provide employment for over 500 people." NR