As per the terms of the agreement, Wood Group PSN (WGPSN) will manage everyday operations as well as serve as duty holder of the CATS terminal and pipeline for ten years.
The company will arrange a Wood Group Kenny (WGK) team in Glasgow, as a part of the operating services team.
CATS is a gas transmission system between the Central North Sea and Teesside, UK. The transmitted gas is processed at the terminal on behalf of North Sea gas producers.
Antin has recently agreed to acquire BP’s share in the transmission system, which will increase its stake to 99%.
Upon completion of this deal, WGPSN is expected to take over CATS operation by the end of the year.
WGPSN UK and Africa managing director James Crawford said: "By leveraging the expertise of WGPSN and WGK, we will draw on the strength of Wood Group for our new client and our priority is to ensure a safe and smooth transition of operatorship with particular focus on retaining and developing the existing CATS workforce.
"We have already established a strong relationship with Antin IP and we are looking forward to working with them to grow and develop CATS."
