London-listed engineering group Wood has won a contract extension with Norway’s Equinor to deliver maintenance services at the Peregrino shallow-water field offshore Brazil.

The two-year contract extension, worth about $80 million, means Wood will continue to provide maintenance and modification solutions to optimise the Peregrino floating production, storage and offloading vessel and the wellhead platforms operating in the Campos basin field.

“The maintenance and upgrade modifications delivered by our team will extend the life of these assets, critical to energy security,” said Wood president of Americas operations Shawn Combden.

The contract workscope cover engineering, pre-fabrication and outfitting, offshore installation, commissioning and turnaround support.

Wood is employing 500 people for the contract with Equinor. During the next maintenance campaign scheduled to start in May 2024, the team will be based on an offshore flotel to increase productivity levels.

Equinor produced first oil from Peregrino in 2011 via the Peregrino FPSO and two wellhead platforms. A third wellhead platform was deployed in the field in 2021 to produce additional oil from the south-eastern portion of Peregrino.

Peregrino is currently producing about 103,000 barrels per day of oil — nearly at peak capacity of the FPSO. Equinor operates the field with a 60% stake and is partnered by China’s Sinochem on 40%.