Oil services giant Wood Group yesterday announced the acquisition of Norwegian offshore engineer Agility Projects in a £96 million deal.
Steven Knowles, CEO of Wood’s offshore-focused Mustang division, said the transaction which remains subject to conditions, including competition approval was “strategically important” and increased access to oilfields in Norwegian waters.
Otto Sberg, remaining in charge at Agility, said the deal would let the group “pursue larger and more complex offshore engineering projects”.
Based at Sandefjord, near Oslo, the firm employs 650 personnel and has an engineering office in Shanghai and operations in Stavanger, Bergen and Moss.