Sir Ian Wood, the Scottish billionaire entrepreneur, philanthropist and founder of the Wood Group, has died peacefully at his home at the age of 84.
Widely regarded as one of the leading figures in the North Sea oil industry, Sir Ian built a global engineering and consultancy business that grew from a family-owned fishing enterprise into one of the world’s leading energy services companies.
Sir Ian took over the family business in 1967 and transformed it into an engineering firm that played a significant role in supporting the rapid expansion of North Sea oil and gas exploration.
Under his leadership, the Wood Group expanded internationally, delivering engineering and consulting services to energy projects around the world. At its peak, the company was valued at more than £5 billion.
He stepped down as chairman of the Wood Group in 2012, having led the company through decades of sustained growth and global expansion.
In recognition of his contributions to the oil and gas industry, Sir Ian was knighted in 1994. He was later appointed to the Order of the Thistle, Scotland’s highest order of chivalry.
Announcing his passing, Sir Ian’s family described him as a devoted husband, father, grandfather and friend whose greatest legacy extended far beyond his business achievements.
In a statement, the 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.”
The family noted that Sir Ian remained deeply committed to creating opportunities for others throughout his lifetime.
According to the statement, his passion for education, enterprise and community development inspired the establishment of The Wood Foundation and several other charitable initiatives that have supported young people, families and communities in Scotland and across the world.
Sir Ian is survived by his wife, Helen, whom he was married to for 55 years, their three sons—Nic, Graham and Garreth—and seven grandchildren.
His family also expressed gratitude to the healthcare professionals who cared for him during his final days.
They added that Sir Ian’s legacy would endure through the many lives he impacted, the organisations he helped build and the values of generosity, innovation and service that defined his life.
The family requested privacy as they mourn his passing, concluding their tribute with a personal farewell:
“May the tea in Heaven always be extra hot.”