Operation and maintenance (O&M) comprised 48% of the global oil and gas contracts awarded in April 2017, according to a report by GlobalData.
Titled 'Monthly Oil & Gas Industry Contracts Review – Yinson Clover’s FPSO Contract Leads Contracts Activity in APAC Region', the report covers the oil and gas contract activity in the month of April.
O&M contracts were followed by multiple scope agreements, including construction, design and engineering, installation, and procurement, which accounted for 22% of global oil and gas deals.
The biggest contracts awarded were in the APAC region, including Talisman Vietnam’s $1bn contract to Yinson Clover for operation and maintenance of a floating production, storage and offloading (FPSO) vessel for the Ca Rong Do (CRD) field in the Eastern Sea, Vietnam.
Talisman’s contract was followed by Petronas Carigali’s $226.8m engineering, procurement, construction, installation and commissioning (EPCIC) contract awarded to Malaysia Marine, and Heavy Engineering’s contract for a central processing platform (CPP) for the Bokor Phase 3 redevelopment project offshore Malaysia.
Hyundai Engineering & Construction emerged as the top contractor winning contracts worth $6.35bn between May 2016 and April 2017. Saudi Aramco was the top issuer, followed by Tengizchevroil with contracts worth $4.17bn and $3.88bn respectively.