Wood Group wins major £477m BP contract

A total of 150 jobs are to created by Aberdeen oil services firm Wood Group.

The company has been awarded a five-year £477m ($750m) contract with BP which will come into force next year.

It covers a number of offshore installations, the major Forties pipeline system, and onshore facilities in Grangemouth.

As well as creating the new jobs, the contract will also secure more than 700 existing positions.

The news comes amid a slump in oil prices in recent weeks, with Brent crude down to less than $65 a barrel.

Sir Ian Wood, who recently headed a government review into the North Sea oil and gas industry, said the oil price was a real issue, with jobs, assets and confidence at risk.

He told the BBC: "Even at $100 oil the industry was facing some pretty serious problems."

Sir Ian retired from his role as chairman of Wood Group in 2012.