The MoU combines the services of WGK and TRAC and will let them jointly provide integrated engineering and site services solutions to clients while maintaining technical independence.
It is estimated the MoU will let the two companies tap into about $A100 million of market-potential work a year.
Both companies have a long-standing relationship of delivering high quality, innovative services and solutions to the oil and gas sector globally.
Wood Group Kenny is a specialist subsea, pipeline and riser engineering and management contractor.
It employs more than 2650 people worldwide and is part of international energy services company Wood Group.
TRAC Oil & Gas is part of TRAC International Group, which provides engineering products and services across several business sectors.