Wood Group strengthens offshore engineering capability with $164m Norwegian takeover

Wood Group logoAberdeen-based Wood Group has taken over the Agility Projects division of Norway’s Agility Group for $164 million to strengthen its offshore engineering capabilities.

Based in Sandefjord, near Oslo, Agility Projects, employs some 650 people in North Sea operations.

Agility Projects will operate within Wood Group Mustang’s offshore business and will be headed up by the current Agility Group CEO, Otto Søberg, and the existing management team.

Wood Group Mustang is one of three strategic business units within the Wood Group providing a range of engineering, production support and turbine services to the oil and gas and power sectors.

Steve Knowles, Chief Executive, Wood Group Mustang, said: “Agility Projects’ reputation is very well-established in Norway and represents a strategically important acquisition for us as it increases our exposure to the greenfield and brownfield engineering markets on the Norwegian North Sea.

 “Agility Projects complements Wood Group’s existing engineering activities in Norway and recently we successfully collaborated in winning the Ivar Aasen topside engineering project in Norway.”

Otto Søberg, Chief Executive, Agility Group, said: “We are very pleased to have found a new home for Agility Projects as it provides access to more engineering resources, allowing Agility Projects to offer a better level of service to our existing and new clients and enable us to pursue larger and more complex offshore engineering projects.”

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