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January 31, 2020updated 26 Oct 2021 7:53am

China National Chemical Engineering secures contract in Russia

By GlobalData Energy

In Q4 2019, the global oil and gas industry witnessed contracts activity was driven by some of the high-value contracts that contributed significantly, mainly China National Chemical Engineering No 7 Construction’s $13.25 billion contract from Baltic Chemical Complex. This covers the FEED and EPC services for two Ethylene cracking, six Polyethylene, two Linear Alpha Olefins cracking units and offsite facilities at Ust-Luga in Russia.

Yinson Production subsidiaries’ two contracts, with a combined worth of $5.4 billion, from Petrobras also contributed significantly. This is for the charter and operation and maintenance services of the Marlim 2 FPSO, destined for operations at Marlim and Voador field, offshore Brazil.

The upstream sector reported 907 contracts during Q4 2019, followed by the midstream and downstream / petrochemical sector with 188 and 124 contracts respectively during the quarter.

North America recorded 379 contracts, followed closely by Europe with 378 contracts, each representing 32% of the total contracts in Q4 2019.

Operation and maintenance (O&M) represented 59% of the total contracts in Q4 2019, followed by contracts with multiple scopes, such as construction, design and engineering, installation, O&M, and procurement, which accounted for 14%.

Other notable contracts during Q4 2019 included the JGC, Fluor, and TechnipFMC (JFT) consortium’s $3.73 billion contract from Mozambique Rovuma Venture. This is for the EPC of LNG production complex comprising of two natural gas liquefaction trains with a total LNG nameplate capacity of 15.2 million tonnes per annum (mpta), as well as associated onshore facilities in Cabo Delgado, Mozambique.

Samsung Engineering and Tecnicas Reunidas received a $3.7 billion contract from Sonatrach for the EPC of a new deep conversion oil refinery, with a capacity of five mpta, in Haoud El Hamra, in the Hassi Messaoud region of Algeria.

Saipem received a $1.7 billion contract for the provision of onshore drilling services using 19 land-rigs, with power between 1,500 horsepower (hp) and 2,000hp, in the Middle East, as well as offshore drilling activities in Norway and Angola.

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