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Concerns raised over John Wood Group PLC’s financial statements go back as far as 2017, the Financial Times reported Sunday. Corporate and regulatory records indicated persistent questions over the Aberdeen, Scotland-based oilfield and engineering services provider’s accounting practices. In late June, John Wood said the UK Financial Conduct Authority had launched an investigation into the company, covering a period of nearly two years. The FCA investigation will examine matters spanning from January 1, 2023, to November 7, 2024. In April, John Wood said it was ‘minded to recommend’ an around £240 million proposed offer from Dar Al-Handasah Consultants Shair and Partners Holdings Ltd, known as Sidara. John Wood at the time said Sidara planned a $450 million capital injection into the company, alongside the proposed 35 pence per share cash bid. According to the FT on Sunday, Sidara declined to comment, with one person close to the company saying that Sidara was still intent on seeing the deal ‘over the line.’ The person added that the issues complicate life for everyone involved, while the push continued. John Wood shares are currently suspended in London, as it still has to publish its 2024 results. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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