Scottish Secretary Douglas Alexander described Sir Ian as “one of Scotland’s finest sons”.
“Ian was a giant of Scottish business, philanthropy and society. A proud son of Aberdeen, he was a tireless advocate for the Granite City and its people,” he said.
“Personally, it was a privilege to be able to know him, work with him on his philanthropic endeavours, and like so many Scots, I mourn his passing.
“My thoughts today are with Lady Helen, Nicholas, Graham, Garreth and the whole family for whom his loss will be most keenly felt.”
Scottish Conservative MP for Aberdeen South, Douglas Lumsden, said:
“Scotland has lost a true guiding light of its business community. Sir Ian was a champion of everything North East, both as a paragon of its economy but also as a philanthropist who did so much good at home and abroad.
“He and his workers around the world forged an international reputation for excellence in energy.
“The Wood name also meant a helping hand to communities, wherever it went.”
David Whitehouse, chief executive of Offshore Energies UK, described Sir Ian as “one of the defining figures of the North Sea oil and gas industry”.
He praised his work in leading the 2013 Wood Review, which led to the creation of the North Sea Transition Authority.
Whitehouse added: “Sir Ian transformed his family’s fishing business into a global engineering player as well as establishing Scotland as a world-renowned centre of energy expertise.
“The offshore energy sector we know today would be very different without Sir Ian’s vision, leadership and persistence.”
Image source, The Wood Family
Image source, The Wood Family Sir Ian was born in Aberdeen in 1942, the middle child of John and Margaret Wood.
He was educated at Robert Gordon’s College, later graduating from the University of Aberdeen with a first-class honours degree in psychology in 1964.
He played rugby with the North & Midlands District XV, including in a match against the All Blacks at Pittodrie Stadium in 1972.
Following graduation, Sir Ian joined the family fishing and marine engineering business, becoming managing director of John Wood and Son.
He continued as Chairman of the legacy business, the Don Fishing Company Ltd, until his death.
He remained interested in the oil and gas business after standing down from the Wood Group, and in 2014 intervened in the Scottish referendum debate, questioning some of the assumptions being made about oil and gas revenues.
Sir Ian supported the move to transitioning from oil and gas to renewables energy but also warned that the UK had to keep drilling for new oil in the North Sea.