Global oil and gas contract activity in July was driven by major contracts awarded in the EMEA region, 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 for July.
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The biggest contract recorded during the month was Belayim Petroleum Company’s (Petrobel) $900m engineering, procurement, construction and installation (EPCI) contract to Saipem for work on the Zohr field development project in Egypt.
Royal Boskalis Westminster and Van Oord joint ventures’ $268m contract for providing rock placement services for the Nord Stream 2 gas pipeline project between Russia and Germany was the second biggest contract announced during the month.
With contracts worth $11.97bn, Hyundai Engineering & Construction was the top contractor for the month, while Sibur Holding was the top issuer with contracts worth $4.38bn.
Operations and maintenance (O&M) contracts constituted 68% of the awarded contracts, followed by contracts with multiple scopes, which accounted for 13%.
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By GlobalData
