Sir Ian Wood, one of Scotland’s richest men and a pillar of the UK oil and gas sector, died at 84. His family said he passed peacefully at home.

Wood steered«the family fishing firm into the offshore engineering arena, turning it into the global provider Wood Group. Despite scepticism from father John, the pivot drove growth in the 1980s and 1990s and helped transform Aberdeen into an oil boom town.

He led the group as CEO until 2006 and as executive chair until 2012. By then, Wood Group had over 42,000 staff in more than 50 countries and was listed on the London Stock Exchange in 2002. After his retirement, the firm’s £2.2bn acquisition of Amec Foster Wheeler in 2017 added debt and its value collapsed from a peak of more than £5bn in 2018 to just over £200mn when Sidara bought it in 2024.

Wood used his stature to champion North Sea jobs, warn of windfall tax risks, and support safety after the 1988 Piper Alpha disaster. He was knighted in 1994, founded the Wood Foundation in 2007, and remained a vocal advocate until his death. He is survived by wife Lady Helen, three sons and seven grandchildren.