John Wood Wins USD120 Million Contract With Sinopec Hainan Refining

(Alliance News) - Aberdeen-based John Wood Group PLC on Tuesday announced the securing of a ...

Alliance News 12 January, 2021 | 9:07AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Aberdeen-based John Wood Group PLC on Tuesday announced the securing of a contract valued at USD120 million with Sinopec Hainan Refining & Chemical Ltd Co for the provision of engineering, procurement and construction services.

Under the contract, the FTSE 250 oilfield services provider will help expand Sinopec's refinery development in South China, through the completion of an ethylene renovation and expansion project.

Once done, the project is expected to produce up to 1.0 million tonnes of ethylene derivatives and refined oil on an annual basis.

Specifically, John Wood will provide services for the site-wide pipe rack, as well as associated pipework and cables for power telecommunications and lighting.

"We are delighted to win this new contract with Sinopec which demonstrates the strength of our long-standing relationship with the client and their confidence in our extensive EPC expertise in the petrochemical sector. We look forward to continuing our partnership to deliver this project safely, sustainably and on-time, making a positive contribution to this significant development," said Mike Collins, executive president of Projects.

Shares in John Wood were marginally higher at 347.90 pence on Tuesday in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation


By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2021 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies       Modern Slavery Statement