EMEA was awarded most oil and gas contracts in Q4 2018

6 February 2019 (Last Updated February 6th, 2019 11:19)

Europe, the Middle East and Africa had the most contracts, representing around 43% of the total awarded contracts in Q4 2018.

EMEA was awarded most oil and gas contracts in Q4 2018
Europe, the Middle East and Africa had the most contracts, representing around 43% of the total awarded contracts in Q4 2018.

In Q4 2018, the global oil and gas industry reported 1,180 contracts, of which 1,132 were awarded contracts, according to a recent report by GlobalData.

EMEA oil and gas

The upstream sector reported 75% of the total awarded contracts, with 852 contracts in Q4 2018. The midstream sector recorded 164 contracts, representing 14% of the total awarded contracts, followed by 98 contracts in the downstream sector, representing 9% of the awarded contracts during the quarter, the 16-page quarterly oil and gas industry contracts review said.

Of all the regions, Europe, the Middle East and Africa (EMEA) had most of the contracts (at 487), representing around 43% of the total awarded contracts in the quarter.

Contracts by scope and count, Q4 2018

Source: GlobalData Energy, Equipment and Services Analytics

Operations and maintenance represented 64% of the awarded contracts for the period, followed by contracts with multiple scopes, such as construction, design and engineering, installation, operations and maintenance, and procurement, which accounted for 12%.

Thailand, Russia and India

One of the high-value contracts was Petrofac, Saipem, and Samsung Engineering consortium’s US$4 billion contract from Thai Oil for the engineering, procurement, construction and commissioning services for clean fuels project at Sriracha refinery in Chonburi, on the East coast of Thailand.

The other notable contracts include Saipem and Renaissance Heavy Industries joint venture’s contract worth €2.2 billion (US$2.5 billion) for the construction of three Liquefied Natural Gas (LNG) plants as well as LNG storage facilities for Arctic LNG 2 project in the Gydan Peninsula, Russia; and BHGE, McDermott International, and LTHE consortium’s subsea contract worth approximately US$1,694.45 million for the engineering, procurement, construction, installation and commissioning of subsea production systems including 34 deepwater trees, and subsea umbilicals, risers and flowlines for 34 wells for the development of block DWN-98/2 in the Krishna Godavari basin, off the East Coast of India.