Jump to contentIndependentSwipe for next articleIndependent Bulletin homepageDownload our appAllNewsSportCultureLifestyleNeil PooranMonday 27 July 2026 11:04 BSTSir Ian Wood has died at the age of 84 (Andrew Milligan/PA)Sir Ian Wood, a Scottish billionaire who built his fortune in the North Sea oil industry, has died peacefully at his home at the age of 84.He transformed his family's Aberdeen-based fishing operation into an engineering and consulting giant, later forming 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. Sir Ian retired as the group's chair in 2012 and was knighted in 1994 for his contributions to the oil and gas sector, later becoming a member of the Order of the Thistle.He established the Wood Foundation in 2007, through which he engaged in philanthropic work.His family described him as “a devoted husband, father, grandfather and friend”, acknowledging “his kindness, generosity, determination and unwavering commitment to his family”.In fullSir Ian Wood: North Sea oil tycoon and philanthropist dies aged 84More bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in