Acording to GlobalData's Monthly Oil & Gas Industry Contracts Review – LNG Contracts Activity Prominent in the Midstream Sector, the upstream sector recorded 90 awarded contracts in October 2016. Operation and maintenance (O&M) accounted for 49% of the awarded upstream contracts. There were contracts for the provision of insulation, scaffolding, and corrosion protection services for production facilities; Inspection, Maintenance, and Repair (IMR) work, High Pressure High Temperature (HPHT) jack-up drilling rig and services, repairs for  offshore platforms; well drilling services; provision of accommodation and lifting services; and jack-up rigs and semi-submersible drilling rigs.

 

Contracts with multiple scopes, such as construction, design and Engineering, installation, O&M, and procurement, accounted for 22% of the contracts awarded in the upstream sector in October 2016. There were contracts for Engineering, Procurement, Construction, and Installation (EPCI) of wellhead platforms; engineering, procurement, fabrication, construction, and offshore installation services for oil and gas producing platforms, platform tie-in works, pipelines, power cables, and all the related facilities for oil and gas fields; provision of engineering and consultancy services across the full asset life cycle of greenfield and brownfield oil and gas assets.

Procurement accounted for 12% of the upstream awarded contracts, which included the supply of complete drilling equipment for a wellhead platform, hyperbaric testing system, and centrifugal compressors.

Major design and engineering activities focused on shallow-water seabed survey related services, integrated subsalt seismic acquisition and imaging solution, airborne gravity and magnetic survey, 2D seismic survey and data acquisition; detailed engineering services for the modifications and improvements of various gas facilities.

Transocean was the top contractor, with US$4.09 billion in contracts over the past 12 months, and Royal Dutch Shell was the top issuer, with US$4.08 billion in awarded contracts.

Notable contracts include Bilfinger SE’s maintenance contract for the provision of insulation, scaffolding, and corrosion protection services for production facilities in the Oseberg, Snorre, Veslefrikk, and Huldra oil and gas fields in the Norwegian Continental Shelf and Diamond Offshore Drilling’s three-year contract from BP for the charter of semi-submersible rig Ocean GreatWhite to support operations in offshore Australia.

About this report

GlobalData's “Monthly Oil & Gas Industry Contracts Review – LNG Contracts Activity Prominent in the Midstream Sector” is an essential source of data on the contracts and open tenders in the oil and gas industry, The report portrays detailed comparative data on the number of contracts and their value in the month, subdivided by region, sector and geographies in Oct 2016, Additionally, the report provides information on the top contractors and issuers based on the worth of contracts executed in the oil and gas industry during the month by geographies and over the year.