Oil and gas contract activity in Q4 2020 witnessed a decrease in the number of contracts while the contract value has seen an increase. The significant contracts include Samsung and Asociados Constructores’ $3.6bn EPC contract for various units of Dos Bocas refinery project in Mexico, and Samsung Engineering’s $1.07bn contract for the provision of Licensor, Engineering, Procurement, Construction and Commissioning (LEPCC) services for methanol production facility in Bintulu, Sarawak, Malaysia.
Upstream sector reported 815 contracts during Q4 2020, followed by midstream and downstream/petrochemical sector with 189 and 154 contracts respectively during the quarter.
Europe recorded the majority of the contracts, with 506 contracts in Q4 2020, followed by Asia and North America with 233 and 198 contracts respectively during the quarter.
Operation and Maintenance (O&M) represented 53% of the total contracts in Q4 2020, followed by contracts with multiple scopes, such as construction, design and engineering, installation, O&M, and procurement, which accounted for 14%.