Sector News

Wood Group in $250-million agreement for operating services on CATS

June 25, 2015
News
Wood Group has entered into a $250-million agreement with Antin Infrastructure Partners (Antin IP) to provide operating services for the Central Area Transmission System (CATS) in the North Sea for up to 10 years, subject to certain regulatory and other consents.
 
Wood Group PSN (WGPSN) will act as the duty holder of the CATS terminal and pipeline and will have day-to-day responsibility for operations. A dedicated Wood Group Kenny (WGK) team based in Glasgow will be integrated into the operating services team to provide pipeline management expertise.
 
CATS transports gas through 404 km of pipeline from the Central North Sea to its terminal in Teesside in the UK where it is then processed on behalf of major North Sea gas producers. The system serves 34 producing fields with a high portion of contracted revenues. In 2013, CATS accounted for the transportation of 13% of UK domestic gas production.
 
The news follows the announcement that Antin has agreed to acquire BP’s share of CATS taking their interest to 99%. WGPSN will work closely with Antin IP and BP to ensure a safe and smooth transition. It is anticipated WGPSN will take responsibility for operating CATS by the end of 2015 once the deal between BP and Antin IP has concluded.
 
Source: WorldOil

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