twitter linkedinfacebookacp contact us

EMEA lead contract award activity in oil and gas industry contracts in Q4 2018

Gas

Europe, the Middle East and Africa (EMEA) have recorded the most contracts with 487 contracts, representing around 43 per cent of the total awarded contracts in Q4 2018, according to GlobalData, a data and analytics company

The company’s latest report: ‘Quarterly Oil & Gas Industry Contracts Review’ revealed that in Q4 2018, the oil and gas industry reported 1180 contracts, of which 1132 were awarded contracts.

The upstream sector reported 75 per cent of the total awarded contracts, with 852 contracts. The midstream sector recorded 164 contracts, representing 14 per cent of the total awarded contracts, followed by 98 contracts in the downstream sector, representing nine per cent of the awarded contracts during the quarter.

The Americas region closely followed with 449 contracts, accounting for 40 per cent of the total awarded contracts, it added.

PR5178The report showed that operations and maintenance accounted for 64 per cent of the awarded contracts in Q4 2018, followed by multi-scope contracts such as construction, design and engineering, installation, O&M and procurement, which accounted for 12 per cent.

One of the high-value contracts was Petrofac, Saipem and Samsung Engineering Consortium’s US$4bn Thai Oil contract for engineering, procurement, construction and commissioning (EPCC) services for the Clean Fuels Project at the Sriracha refinery in Chonburi, on the eastern coast of Thailand.

Other notable contracts during Q4 2018 included a US$2.5bn contract between Saipem and Renaissance Heavy Industries for the construction of three LNG plants and two Arctic LNG storage facilities in the Gydan Peninsula, Russia.

The subsea contract of the BHGE, McDermott International and LTHE consortium amounted to approximately US$1,694.45mn for the engineering, procurement, construction, installation and commissioning (EPCIC) of subsea production systems (SPS), including 34 deepwater trees, and subsea umbilicals, risers and flowlines (SURF) for 34 wells for the development of the DWN-98/2 block in the Krishna Godavari Basin, off the East Coast of India.

The oil and gas industry has been increasingly adopting AI technology in recent years, and this trend is expected to continue in the coming years. (Image source: Adobe Stock)

SmartMaster can be used with a range of ABB and third-party instruments. (Image source: ABB)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

ARO Drilling and IMI announce first Kingdom jack up rig (Image source: ARO)

Oman LNG signed various agreements with Shell Gas to secure its gas supply until 2034. (Image source: Adobe Stock)

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

Michael Monica, director sales, marketing and customer care at GPT Industries signs the agreement with Mohamed Altaf, sale manager, Abdulla Fouad Energy Services. (Image source: Alain Charles Publishing)

Amin H. Nasser, CEO of Aramco. (Image source: Aramco)

The system can activate notification and hazard mitigation equipment to notify workers and safeguard facilities. (Image source: MSA Safety)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

The new discoveries will bolster Aramco’s strategy to increase gas production by more than half over 2021 levels, through 2030. (Image source: Adobe Stock)

Tethys Oil is currently conducting final preparations ahead of the rig mobilisation for the drilling of the first exploration well on Block 58, Kunooz-1 in Fahd.

Source: SafeStart

The new technology is designed to address the challenging conditions in unconventional wells. (Image source: Adobe Stock)

The Ampelmann A-type enabling safe offshore access in the Middle East. (Image source: Ampelmann)

Aramco has produced the first unconventional tight gas from its South Ghawar operational area ahead of schedule. (Image source: Adobe Stock)

Tethys Oil is currently conducting final preparations ahead of the rig mobilisation for the drilling of the first exploration well on Block 58, Kunooz-1 in Fahd.

TotalEnergies and SONATRACH will develop gas resources in Algeria's north-east Timimoun region, (Image source: Adobe Stock).

By using analytics to augment and empower the workforce, pipeline operators can optimise operations and improve asset availability. (Image source: Adobe Stock)

The oil price is hovering around the US$90/bbl mark. (Image source: Adobe Stock)

The Craig International Qatar team. (Image source: Craig International)

The SuperFill II diverter reduces induced surge pressure. (Image source: Halliburton)

Among other services, KBR will offer proprietary equipment for NCIC's 1,200 metric tonnes per day ammonia plant. (Image source: Adobe Stock)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

ADNOC Gas recorded robust financial and operational results in 2023. (Image source: Adobe Stock)

Over 4,000 km of SoluForce pipe has been installed around the world. (Image source: SoluForce)

Block 56 is targeted for commercialisation in 2024. (Image source: Canva)

The programme will optimise asset lifecycle, enhance machinery performance and improve overall reliability. (Image source: Adobe Stock)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

Source: SafeStart

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

The company is well positioned in 2024, with a reshaped and resilient business and a strong balance sheet. (Image source: Adobe Stock)

The vessel addresses the growing demand for accurate hydrographic data. (Image source: Fugro)

The virtual inhouse seismic processing centre will allow each of the decentralised business units of Wintershall Dea globally to collaborate efficiently and directly with DUG. (Image source: Adobe Stock)