Report: Daewoo Shipbuilding & Marine Engineering emerges as top contractor in March

27 April 2017 (Last Updated April 27th, 2017 18:30)

The top contractor in the oil and gas industry was Daewoo Shipbuilding & Marine Engineering (DSME) in March, according to a monthly contracts review report by GlobalData.

Report: Daewoo Shipbuilding & Marine Engineering emerges as top contractor in March

The top contractor in the oil and gas industry was Daewoo Shipbuilding & Marine Engineering (DSME) in March, according to a monthly contracts review report by GlobalData.

Titled ‘Monthly Oil & Gas Industry Contracts Review – Petrofac and China National Chemical Engineering Boost Contracts Activity in EMEA Region’, the report states that DSME had contracts totalling $3.8bn in value between April 2016 and March 2017.

"Hyundai Heavy Industries was the next top contractor during the period, with contracts worth $3.26bn."

Hyundai Heavy Industries was the next top contractor during the period, with contracts worth $3.26bn. Saudi Aramco was the top issuer with contracts worth $4.18bn, followed by Tengizchevroil with $3.88bn.

In terms of continents, the EMEA region witnessed the highest oil and gas contract activity in March. One of the top contracts awarded in the region were Kuwait Oil Company’s $1.3bn engineering, procurement, and construction (EPC) contract to Petrofac for developing a sour gathering centre at the Burgan oil field in Kuwait.

Other contracts included Statoil’s $587.22m contract to Kvaerner for upgrading the Njord A platform, and China National Chemical Engineering’s $1.18bn EPC contract to build a hydrocracking project at the Afipsky refinery in Russia.

In terms of the types of contracts, operation and maintenance (O&M) had the highest share of the awarded contracts at 48, followed by multiple scope contracts, including construction, design and engineering, and procurement, which together accounted for 20%.