ABERDEEN, UK -- Wood Group Engineering has awarded Sovereign Oilfield Group Plc. subsidiary Sovereign Dimensional Survey Ltd. a contract to provide
dimensional control and laser scanning services for the North Sea. The contract also includes additional international work, Sovereign says. The three-year contract began June 11, with an option for Wood Group Engineering (North Sea) to renew for a further year.
The contract value is estimated in excess of £1 million ($2 million) per year.
"We are delighted with the confidence that Wood Group Engineering (North Sea)
have shown in SDS. The management team at SDS has worked hard to win this
contract. It is indicative of SDS's strong growth since the company's inception
in September 2006. Order books are at record levels, and SDS continues to perform
strongly," says Graham Burgess, Sovereign CEO.
Sovereign, which joined AIM in Sept. 2005, was formed in Oct. 2003 for the specific purpose of developing an oilfield service company focused on providing integrated fabrication services and drilling and engineering services to oil and gas companies and contractors, and promoting new technologies for enhancing drilling and production, the company says.