Global oil and gas contracts activity reported a decrease of 12% in the number of contracts from 6,993 in 2024 to 6,188 in 2025. The total disclosed contract value also decreased, from $193.5bn in 2024 to $139.8bn in 2025.
Stability, despite intermittent dips, is being underpinned by robust contributions from several high-value awards secured by leading contractors. In the upstream segment, Saipem–COOEC won a $4.0bn EPCI contract and L&T’s ultra-mega EPCIC contract for Qatar’s North Field Compression Complexes (COMP5 and COMP4). In the midstream sector, a consortium comprising Cimolai, Corinth Pipeworks, Mannesmann Grossrohr, Europipe, Mannesmann Line Pipe, and Erndtebrücker Eisenwerk secured $2.93bn in contracts to supply strategic pipeline materials for hydrogen, natural gas, and carbon infrastructure projects in the Netherlands, Belgium, and Germany.
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Wood Group was awarded a $2.8bn EPCM contract for the Habshan and Habshan 5 gas-processing mega-complexes and associated pipelines in the UAE. In the downstream / petrochemical sector, Maire (through Tecnimont, Nextchem, and KT-Kinetics Technology) secured EPC and engineering services for petrochemical and hydrotreating projects, as well as a waste-to-chemicals initiative across Southern Europe, Sub-Saharan Africa, and Central Asia, while Sinopec Engineering won a $2.06bn EPC contract for the Hassi Messaoud Refinery project in Algeria.
Operation and maintenance (O&M) represented 47% of the total contracts in 2025, followed by contracts with procurement scope with 29%, and multiple scopes, such as construction, design and engineering, installation, O&M, and procurement, accounted for around 12% The upstream sector reported 4,310 contracts during 2025, followed by the downstream / petrochemical and midstream sectors with 1,249 and 731 contracts during the year. Asia recorded the most contracts, with 2,503 in 2025, followed by Europe and North America, with 1,392 and 1,259, respectively, during the year.
Further details can be found in GlobalData’s new report, ‘Annual Global Oil and Gas Industry Contracts Review: Saipem-COOEC, Petrofac, Sinopec, and Marie Led Charge Despite Contract Dips‘.
