The Europe, the Middle East and Asia (EMEA) region recorded the highest number of oil and gas contracts during the month of February, according to a report by GlobalData.
Titled ‘Monthly Oil & Gas Industry Contracts Review – Contract Award Activity Prominent in EMEA Region’, the report provides details of the global oil and gas contract activity during February.
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The biggest contracts awarded in the EMEA region included Oil Search’s engineering, procurement and construction (EPC) contract worth $250m to Monadelphous Group, and Jacobs Engineering for carrying out mechanical and electrical works on production facilities located in Papua New Guinea’s Highlands region.
Other notable contracts signed during the month were Doosan Heavy Industries & Construction’s $400m contract to Siemens for supplying five F-class gas turbines and a construction contract for a floating storage and regasification unit to Hyundai Heavy Industries.
With contracts worth $6.6bn between March 2016 and February 2017, Hyundai Engineering & Construction topped the list of biggest contractors, followed by Daewoo Shipbuilding & Marine Engineering (DSME), which won $3.45bn-worth contracts.
The top contracts issuer during the month was Saudi Aramco with contracts worth $5.21bn, followed by BP with $5bn-worth contracts.
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By GlobalDataOperation and maintenance (O&M) contracts accounted for 55% of the contracts awarded during the month, followed by multiple scope contracts accounting for 15%.
