Headline Sponsor - wood
With 40,000 professionals, across 60 countries, Wood is one of the world’s leading consulting and engineering companies operating across Energy and the Built Environment. United by our common purpose to unlock solutions to the world’s most critical challenges, we are future ready, now.
In recent years, Wood has been on a transformational journey to build a stronger, more resilient and relevant business. We have taken very deliberate steps to reposition the organisation from a traditional oilfield services provider into a broader consulting and engineering company operating across energy and the built environment.
This has been a significant shift – new end markets, a more diversified geographic footprint and a deeper range of solutions that are helping us to secure the growing opportunities that come with the energy transition and the demand for more sustainable and resilient infrastructure.
We are very proud of the platform we have created and continue to focus on strengthening the business so that we can deliver on our purpose to unlock solutions to the world’s most critical challenges and deliver a return for all our key stakeholders.
Wood is a global leader in consulting and engineering across energy and built environment. We help to unlock solutions to some of the world’s most critical challenges including energy transition, climate change and the need for more sustainable and resilient infastrucutre.
Headquartered in Aberdeen, we have an annual turnover of $7.6bn and employ 40,000 people in 60 countries in all regions of the world, including around 7,000 colleagues in the UK.
We currently have three main business lines each of which operates within the UK and globally:
- Consulting - specialist engineering, infrastructure development and environmental consulting
- Projects - project management and delivery, engineering design, procurement and construction
- Operations - asset optimisation, operations, modifications and maintenance
Our consulting business currently delivers around 30% of the group turnover. Projects and operations focus mostly on the energy sector and make up 70% of our revenue.
Our core end markets comprise the following:
Conventional energy - c35% of revenue
Process & chemicals – c20% of revenue
Renewables & other energy – c25% of revenue
Sustainable Infrastructure – c20% of revenue
Our transformation into a broader consulting and engineering company across energy and the built environment has been a substantial and successful shift. In 2014, 96% of Wood’s revenue was derived from oil and gas work, compared with 2020 where upstream accounts for just one third of total revenue.
Today, Wood offers a blend of consulting, projects and operations solutions and holds strong positions in a wide range of end markets. This includes a fast-growing renewables business where we have been involved in over 30GW of solar projects and supported 20% of the total installed global wind capacity, world-class decarbonisation capabilities having completed more than 150 CCS studies in the last 30 years, and a market-leading position in hydrogen having licenced, designed and installed over 120 hydrogen units globally.
At the same time, we remain committed to the oil and gas sector and are actively partnering with operators to help them achieve their own energy transition goals. This includes using renewables to electrify platforms in the UKCS, developing decarbonisation strategies to reduce the carbon intensity of upstream and downstream activities, and sustainable solutions for late life and decommissioning work.
As the world pivots towards a cleaner planet underpinned by lower-carbon energy systems and sustainable, resilient infrastructure, Wood is well placed to secure future growth and support the government’s vision to build back better and deliver a green industrial revolution.