The upstream sector recorded 172 awarded contracts in April 2017. The prominent contract was Yinson Clover’s $1 billion contract from Talisman Vietnam 07/03 for the time charter comprising the bareboat scope of work, and operation and maintenance of a floating production, storage and offloading (FPSO) for Ca Rong Do field development project in the Eastern Sea, offshore Vietnam.
Operation and maintenance (O&M) accounted for 59% of the awarded upstream contracts. There were contracts for the provision of charters for the maintenance of FPSO vessels; charter of platform supply vessels (PSVs); anchor handling tug supply (AHTS) vessels; ultra-deepwater dual-activity semi-submersible rig; remotely operated vehicle (ROV); offshore drilling support activities; inspection services for deepwater mooring; installation of umbilicals; provision of helicopter services; provision of jack up drilling rig; offshore crane maintenance services; corrosion risk assessment and risk-based inspection expertise for the hull, topside structures, pipelines, turret, mooring system, pipework, and pressure safety valves.
Design and engineering accounted for 17% of the awarded upstream contracts, with activities focused on engineering services including of conceptual studies and pre-front end engineering and design (Pre-FEED) for oil field development projects and subsea flowline system; seabed geophysical and geotechnical survey; provision of 2D/3D broadband 3D marine seismic survey.
Contracts with multiple scopes, such as construction, design and engineering, installation, O&M, and procurement accounted for 16% of the contracts awarded in the upstream sector in April 2017. There were contracts for the provision of engineering, procurement, construction, installation and commissioning (EPCIC) of central processing platform (CPP); insulation, scaffolding and surface treatment (ISO) services and other related services; FEED and EPCIC for three wellhead platforms; and construction and hook-up of fixed offshore platforms, including topsides and steel jacket substructures.
Procurement accounted for a mere 6% of the awarded upstream contracts, which included the supply of stainless steel umbilical tubes; hoses and couplings for use at semi-submersible drilling rigs; and subsea equipment for field development projects.