Wood Group sponsors arctic engineering chair

John Wood Group PLC is sponsoring a professorial chair in arctic engineering at the Memorial University of Newfoundland (MUN) in St John's, Canada.

Offshore staff

HOUSTON --John Wood Group PLC is sponsoring a professorial chair in arctic engineering at the Memorial University of Newfoundland (MUN) in St John's, Canada.

"I am delighted to announce that, over a five-year period, we are investing C$500,000 to sponsor a new academic Chair at MUN, which will be known as the 'Wood Group Chair in Arctic and Cold Region Engineering'," says Mike Straughen, Group director and chief executive of Wood Group's engineering operations.

"Exploration in the Arctic is still in its infancy and surveys produced by the US Geological Agency suggest that the area may contain as much as one fifth of the world's yet-to-be discovered oil and gas reserves. It is estimated that the arctic may hold as much as 90 Bbbl of undiscovered oil reserves and 1,670 tcf of natural gas."

01/14/2009

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