Transocean and Shell signed one of the major contracts in the oil and gas sector in the third quarter of 2017, according to a report by GlobalData.
Titled ‘Monthly Oil & Gas Industry Contracts Review – Transocean and Sinohydro’s Contracts Prominent in Upstream and Downstream Sectors’, the report details prominent contracts signed in the upstream and downstream sectors during the third quarter.
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Shell will use Transocean’s ultra-deepwater drillship, Deepwater Pontus, for performing drilling operations in the US Gulf of Mexico for a period of ten years, under the contract.
The second major contract signed during the quarter was Sinohydro Corporation’s $2bn deal with Soukhna Refinery and Petrochemicals to build a 155,000 barrels-a-day oil refinery project in Egypt.
Samsung Heavy Industries was the top contractor during the quarter, with $9.59bn worth of contracts, while Coral FLNG was the top issuer with contracts worth $6.32bn.
The report further states that 65% of the contracts signed during the quarter were related to operations and maintenance (O&M), while contracts with multiple scope, including construction, design and engineering, installation, O&M, and procurement accounted for 17%.
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By GlobalData
