UK-based contractor Wood has secured over $1 billion in contract awards across the Middle East in 2025, marking its second consecutive year of record sales bookings in the region. The company reported a near 20% increase in awards compared to 2024, with work spanning the United Arab Emirates, Iraq, Saudi Arabia, Bahrain, Kuwait, Oman, and Qatar.

Major Contract Awards

The largest project awarded this year is an engineering, procurement and construction management (EPCM) contract to expand Adnoc Gas' Habshan facility. This project involves substantial upgrades, operational efficiency improvements, brownfield modifications, and the installation of new facilities. Other significant wins include a project management and engineering services contract for PetroChina at the West Qurna 1 oilfield in Iraq, and a project management consultancy (PMC) contract from Abu Dhabi’s Ta'ziz for developing the UAE’s first methanol production facility in Al Ruwais Industrial City.

Decarbonisation and Advisory Work

Wood also secured a series of decarbonisation contracts in 2025 focused on flare gas reduction and carbon efficiency project solutions across Iraq's largest oilfields. Additionally, the company won an advisory and due diligence framework for a global energy and chemicals investment company.

Strategic Context and Financials

This contract success comes amid a pending acquisition, as shareholders recently backed a £216 million takeover offer from UAE engineering company Sidara. The transaction is expected to be completed in the first half of 2026. Financially, while Wood's reported 2024 full-year and half-year 2025 earnings were viewed as disappointing by analysts, its order book showed strength, growing 12% from the end of 2024 to $6.47 billion as of June 30.

Future Outlook

According to company leadership, the 2025 contracts delivered critical solutions to improve asset reliability and cut emissions across the Middle East. The stated strategy for 2026 is to build on this success by expanding Wood's operations and maintenance services in the region.