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Publish Date : 03-Jan-2014

BP plc (ADR) has awarded a 5-year, multi-million-pound contract to Wood Group ODL, the energy services company effective 2014 January. Under the contract, Wood Group ODL will offer document-control as well as information management services for BP plc (ADR)'s North Sea business. This particular contract strengthens the 11-year tie between BP plc (ADR) and Wood Group ODL. The deal has been awarded via a competitive-tender process.

Wood Group ODL is a Wood Group PSN business. It manages some other contracts with BP plc (ADR) internationally to offer operations procedure-manuals and training & competency assessments.

BP plc (ADR) has a very strong pipeline of various projects and expects to launch 4 new upstream-ventures to start by 2013-end. Of these projects, Angolan LNG and the Atlantis North Expansion started operations in the 1H2013. The company's Australia-North Rankin PhaseII and Azerbaijan-Chirag are right on schedule to begin production in the 2nd half. Six additional project start-ups are in the pipeline for 2014. In total, BP plc (ADR) has around 50 major assignments right through the next ten years. Of these projects, 11 include over $10B in total cost. The company's latest contract will be useful due to its massive contract pipeline.

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