Energy security concerns are boosting upstream spending plans: UK’s Wood Group

摘要

Oil and gas supply security concerns triggered by Russian war in Ukraine are prompting producers to boost spending on their existing upstream assets, the UK’s oil and service company Wood Group said Aug.23. Reporting its first-half earnings, Wood Group service company said spending by oil and gas companies is growing as they seek to prolong the life of existing assets in the face of a European gas supply crisis and the looming impact of EU sanctions on Russia’s oil. The Aberdeen- based company manages energy assets, provides engineering services, and has a related consultancy business.