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Sir Ian Wood, Wood Group Founder, Dies at 84

7/27/2026

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Summary

Story summary

Sir Ian Wood, founder of the Wood Group, died at his Aberdeen home in July 2026 at age 84.
He built the Wood Group from a family fishing firm into an engineering company valued at over £5 billion.
Wood founded the Wood Foundation in 2007, which funds education and agriculture projects in Scotland and East Africa.
His wealth was estimated at about £1.8 billion (? $2 billion).
First Minister John Swinney praised Wood's enterprise and generosity.

History

Historical Context

The Forties field, located 110 mi east of Aberdeen, was discovered by the drill-ship Sea Quest on 7 October 1970 and began production in 1975. BP’s development, highlighted by the Queen switching on the field in November 1975, lifted output to a 1979 peak of 500,000 bbl/day, turning Aberdeen into the UK’s North Sea oil hub and underpinning Scotland’s modern energy economy.

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Story summary

Sir Ian Wood, founder of the Wood Group, died at his Aberdeen home in July 2026 at age 84.
He built the Wood Group from a family fishing firm into an engineering company valued at over £5 billion.
Wood founded the Wood Foundation in 2007, which funds education and agriculture projects in Scotland and East Africa.
His wealth was estimated at about £1.8 billion (? $2 billion).
First Minister John Swinney praised Wood's enterprise and generosity.

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