The oil and gas contract activity in the midstream sector was concentrated in the Americas during the month of October, according to a report by GlobalData.
Titled 'Monthly Oil & Gas Industry Contracts Review – LNG Contracts Activity Prominent in the Midstream Sector', the report provides details of the contracts issued and top contractors during the month.
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The most notable contract award during the month was Shanghai Honghuas’ $1.8bn services contract to Argo LNG Partners for the construction, installation and debugging works for an offshore LNG platform to be operated in the Gulf of Mexico.
Samsung Heavy Industries’ $213.12m contract to Viken Shipping for the construction of two Suezmax and two Aframax tankers was another major contract.
The top contractor during the period was Hyundai Engineering & Construction, with contracts totalling $5.86bn in value, followed by SK Engineering & Construction, with contracts totalling $4.35bn in value. Gazprom, the top issuer with contracts worth $7.63bn, was followed by Statoil with $5.63bn.
Operation and maintenance contracts accounted for 41% of the awarded contracts, followed by contracts with multiple scopes, such as design and engineering, procurement, and operation and maintenance, which together accounted for 22%.
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By GlobalData
