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

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.

The 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.