Scotland's Wood Group has confirmed that it has reached an agreement to acquire the Australian oil and gas safety training firm Marine & Offshore Group (M&O).

Presently, M&O is involved in training operations in a number of oil and gas industries, including projects in Australia, New Zealand, Kazakhstan, Nigeria and Singapore, while it is also in the process of setting up initiatives in Egypt, Libya and Tunisia.

As such, this new deal represents a significant expansion for the Aberdeen-based Wood Group, with some 200 M&O staff to be transferred to its Engineering and Production Facilities division, though the new acquisition will still operate under its own name.

According to Wood Group director, M&O boasts an excellent record of training oil and gas professionals across its nine international sites, having generated revenues of around £4.8 million in the 12 months to the end of June.

"We see their services as complementary to and supportive of our international expansion plans," he added, speaking to the Scotsman.

At the same time, Wood Group has also confirmed that it is looking to fast-track the construction of the proposed San Jacinto energy plant in Texas, with operations expected to begin at some point in 2009.

Oil & Gas Directory: Training & Development