02 November 2012

Scottish energy firm Wood Group expands in India

02 November 2012 - Scottish Development International's Chief Executive Anne MacColl has welcomed the expansion of a major Scottish energy firm's Indian operations. Wood Group's new £750,000 engineering hub will strengthen business links between Scotland and India. 

The project, supported by Scottish Development International, will enable Wood Group to build on its existing presence in India, where the company has operated since 2000. 

The engineering hub will open access to some of the world’s best engineering talent to service both the Indian domestic market as well as international projects in the Middle East, Asia, Australia and Europe. 

Wood Group currently employs 130 people in India and this new hubs will create a further 100 highly skilled jobs

Ms MacColl said, “Scotland’s long-standing expertise in oil and gas has fostered successful Scottish companies like Wood Group, which have a strong history of providing engineering excellence to global operators and a reputation for industry innovation, making them highly attractive to countries such as India. 

“The export of our vast expertise in this field forms a key component of the recently launched oil and gas strategy for Scotland. 

"With some 40 percent of offshore wells in Asia, Scottish companies are actively seeking to expand overseas in the years ahead, in order to leverage opportunities in key markets like India.” 

During a tour of the new facility as part of a trade mission in the region, Fiona Hyslop, Cabinet Secretary for Culture and External Affairs, said, “Wood Group is a significant player in the energy sector and a champion of Scotland’s international growth. Their expansion demonstrates a continued strengthening of business ties between our two countries, and highlights the appetite of Scottish companies to develop into Indian markets. 

“There is enormous demand for energy across India, which coupled with its government’s ambition to reduce its reliance on oil and gas imports, presents significant opportunity for Scotland to export our knowledge and expertise. 

This project clearly demonstrates the opportunities on offer for Scottish companies looking to broaden their horizons in overseas markets – which is a key driver for long-term growth.” 

Source: Scottish Development International