John Wood Group Gets Chevron Oil Platform Commissioning Pact

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SOURCE Dow Jones Newswires | 07 July 2011

LONDON -(Dow Jones)- Energy services provider John Wood Group PLC Thursday said it has been granted a multi-million dollar, three-year contract by Chevron Corp. to commission the Big Foot oil platform in the deepwater Gulf of Mexico.

Work will be performed by DSI, the group's commissioning services business. It will involve readying systems and procedures on the rig, inspection and testing, as well as the final handover to Chevron.

Big Foot is a tension-leg platform, meaning it is a floating structure, moored in place and best-suited for deepwater operations.

This will be the eighth tension-leg platform that DSI has commissioned. It is also currently in the process of commissioning another of Chevron's deepwater Gulf of Mexico platforms, the Jack & St. Malo semi-submersible.

The platform is located around 225 miles south of New Orleans, in water up to 1,600 meters deep, and will have a production capacity of 75,000 barrels of oil and 25 million cubic feet of natural gas a day.

Installation of the platform is scheduled to begin in November 2012 and first oil is expected in 2014.

Shares at 0925 GMT were up 4.5 pence, or 0.65%, at 698.5 pence, in a slightly higher FTSE 100 Market--up 0.4%.

By Iain Packham, Dow Jones Newswires

07-07-11 0603ET

Copyright (c) 2011 Dow Jones & Company, Inc.