Tributes paid to North Sea businessman Sir Ian Wood

Businessman Sir Ian Wood – the billionaire and philanthropist who ran the Wood Group company based in Aberdeen – has died at the age of 84.

One of Scotland’s wealthiest people, Sir Ian earned his fortune in the North Sea oil industry where he built up the engineering and consulting company.

He died peacefully at his home.

Wood Group started as a family fishing business before Sir Ian took over in 1967.

Over the next decades, he formed a separate engineering company servicing the rapidly-growing North Sea oil business.

At its height, the Wood Group was valued at more than £5 billion, carrying out work in the energy industry around the world.

Sir Ian, who retired as chairman of the group in 2012, was knighted in 1994 for services to the oil and gas industry.

He was later made a member of the Order of the Thistle, Scotland’s highest order of chivalry.

His philanthropic work was carried out through the Wood Foundation, which he founded in 2007.

The foundation is involved in a number of investments and charitable work around agriculture and conservation in east Africa, as well as projects in Scotland.

A statement from Sir Ian’s family said: “Sir Ian was a devoted husband, father, grandfather and friend.

“While many knew him as an entrepreneur, philanthropist and one of Scotland’s most influential business leaders, those closest to him will remember above all his kindness, generosity, determination and unwavering commitment to his family.”

David Whitehouse, chief executive of industry organisation Offshore Energies UK, described Sir Ian as “one of the defining figures of the North Sea oil and gas industry”.

He added: “The offshore energy sector we know today would be very different without Sir Ian's vision, leadership and persistence.

“He was always supportive of me in my role, and I appreciated his guidance and kindness.”

Sir Ian was a husband to Helen for 55 years, a father to Nic, Graham and Garreth, and a grandfather of seven children.

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