Shell Awards Key EPC Contract to TendrillWood Joint Venture

Shell plc’s SHEL Brunei arm, Brunei Shell Petroleum (“BSP”), has awarded a major five-year engineering, procurement and construction (“EPC”) contract to the TendrillWood joint venture. This agreement marks a significant step in BSP’s continued commitment to delivering reliable and efficient energy solutions for the nation, while reinforcing its legacy of collaboration with Wood.

Terms of the Contract

The scope of the contract includes brownfield EPC services across both offshore and onshore assets, covering everything from conceptual design to commissioning and start-up. This award ensures continuity in BSP’s strategic operational goals and energy security agenda.

The agreement also includes a provision to extend the contract by an additional two years after the initial five-year period.

Taking a Look at the TendrillWood Joint Venture

TendrillWood joint venture is a strategic collaboration between Shell’s long-standing partner Wood and Brunei’s firm Tendrill International, formed in 2023. This joint venture brings together Tendrill’s strong local knowledge with Wood’s world-class global expertise.

It delivers comprehensive EPC services tailored to Brunei’s energy sector. With a focus on project execution, engineering design, procurement of materials and services, logistics and construction, TendrillWood consistently delivers reliable and efficient outcomes. Through strategic planning and proactive risk management, the joint venture ensures safe and dependable operations while reducing uncertainty.

Empowering Talent of Brunei and Local Industry

A core element of the BSP-TendrillWood partnership is its alignment with Brunei’s national goals for local capacity development. The TendrillWood joint venture employs around 1,000 personnel, 70% of whom are locals. This workforce composition is a direct reflection of BSP’s broader aim to invest in human capital and strengthen the domestic supply chain.

Global Standards, Local Delivery

This EPC contract is more than a technical milestone, it reflects BSP’s confidence in a joint venture that merges world-class engineering standards with deep local knowledge. The synergy between Wood’s global EPC expertise and Tendrill’s regional insights creates a powerful platform for delivering sustainable, safe and high-performance outcomes.

SHEL’s Zacks Rank & Key Picks

London-based Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations that span almost every corner of the globe. Currently, SHEL has a Zacks Rank #3 (Hold).

Investors interested in the energy sector might look at some better-ranked stocks like Global Partners LP GLP, Subsea 7 S.A. SUBCY and W&T Offshore, Inc. WTI. While Global Partners and Subsea 7 currently sport a Zacks Rank #1 (Strong Buy) each, W&T Offshore carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. GLP owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. The Zacks Consensus Estimate for Global Partners’ 2025 earnings indicates 17.84% year-over-year growth.

Subsea 7 operates as an engineering, construction and services contractor to the offshore energy industry worldwide. The Zacks Consensus Estimate for Subsea 7’s 2025 earnings indicates 95.52% year-over-year growth.

Houston, TX-based, W&T Offshore is a leading oil and natural gas explorer with operations primarily focused on resources located off the coast of the Gulf of America. The Zacks Consensus Estimate for WTI’s 2025 earnings indicates 19.57% year-over-year growth.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research