Wood Group wins Majnoon oil contract in Iraq

Aberdeen-based Wood Group has been awarded a contract to help develop what is thought to be one of the world's biggest oil fields, in Iraq.

Majnoon is estimated to hold about 38 billion barrels of oil.

About 200 Wood Group workers will provide tools, services and test equipment to assist the start-up, commissioning and testing of the field, which lies near Basra.

The contract is believed to be worth up to $20m (£12.8m).

The project is being overseen by Shell Iraq Petroleum.

The one-year contract was awarded to Wood Group-CCC, a joint venture between Wood Group PSN and Consolidated Contractors Company.

In March, Wood Group reported a 43% increase in pre-tax profits for 2012.

The firm made $363m (£239m) with revenues up 20% to $6.8bn (£4.5bn).